Gold Co. received dividends from its common stock investments during the year ended December 31 as follows: * A cash dividend totaling $50,000 from its trading security investment in Hico Corporation, when the market price of Hico's shares was $40 per share * A cash dividend of $20,000 from Garden Corp. in which Gold Co. owns a 32% interest How much dividend income should Gold report in its income statement? Select one: a. $30,000 b. $0 c. $50,000 d. $20,000
Gold Co. received dividends from its common stock investments during the year ended December 31 as follows: * A cash dividend totaling $50,000 from its trading security investment in Hico Corporation, when the market price of Hico's shares was $40 per share * A cash dividend of $20,000 from Garden Corp. in which Gold Co. owns a 32% interest How much dividend income should Gold report in its income statement? Select one: a. $30,000 b. $0 c. $50,000 d. $20,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Gold Co. received dividends from its common stock investments during the year ended December 31 as follows:
|
*
|
A cash dividend totaling $50,000 from its trading security investment in Hico Corporation, when the market price of Hico's shares was $40 per share
|
|
*
|
A cash dividend of $20,000 from Garden Corp. in which Gold Co. owns a 32% interest
|
How much dividend income should Gold report in its income statement?
Select one:
a. $30,000
b. $0
c. $50,000
d. $20,000
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