Merck & Co., Inc. reports a December 31, 2016 balance of $715 million in Investments in...
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Merck & Co., Inc. reports a December 31, 2016 balance of $715 million in "Investments in affiliates accounted for using the equity method" ("Investments in affiliates"). Provide the entries for the following events for fiscal year 2017: a. Merck's share of income from its affiliates was $42 million. b. Merck received dividends and distributions from its affiliates of $2 million during fiscal year 2017. Note: Enter answers in millions. Ref. Description Debit Credit а. b. c. After these events, what should be the balance in Merck's investments in affiliates account at December 31, 2017? $4 million Merck & Co., Inc. reports a December 31, 2016 balance of $715 million in "Investments in affiliates accounted for using the equity method" ("Investments in affiliates"). Provide the entries for the following events for fiscal year 2017: a. Merck's share of income from its affiliates was $42 million. b. Merck received dividends and distributions from its affiliates of $2 million during fiscal year 2017. Note: Enter answers in millions. Ref. Description Debit Credit а. b. c. After these events, what should be the balance in Merck's investments in affiliates account at December 31, 2017? $4 million
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Ref Descriptlon Deblt Credit a Investment in affiliates 42 million ... View the full answer
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
Posted Date:
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