Huron Inc. owns 100% of Erie Ltd. During the year, Erie earned a net income of $40,000 and declared and paid dividends of $10,000. Assuming that Huron uses the equity method, what effect would the above information have on Huron's Investment in Erie account?

Answer rating: 100% (QA)

When Huron Inc owns 100 of Erie Ltd and Erie earns a ... View the full answer