Gise Corporation purchased 35,000 common shares of Wagner Corporation for $52 per share on January 2, 2020.
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Question:
Gise Corporation purchased 35,000 common shares of Wagner Corporation for $52 per share on January 2, 2020. During 2020, Wagner Corporation had 140,000 common shares outstanding, paid cash dividends of $88,000, and reported a net income of $320,000. Under the equity method, Gise Corporation should report revenue from investments for 2020 in the amount of
a. $nil.
b. $22,000.
c. $58,000.
d. $80,000.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1111534912
8th edition
Authors: Gary A. Porter, Curtis L. Norton
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