Matt accounts for its investment in Dallas Corporation under the equity method. Matt carried the Dallas investment at $150,900 and $165,600 at December 31, 2020, and December 31, 2021, respectively. During 2021 Dallas recognized $75,650 of net income and paid dividends of $20,750. Assuming that Matt owned the same percentage of Dallas throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent): Multiple Choice 25%. 27%. 71%. 19%.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Matt accounts for its investment in Dallas Corporation under the equity method. Matt carried the Dallas investment at $150,900 and $165,600 at
December 31, 2020, and December 31, 2021, respectively. During 2021 Dallas recognized $75,650 of net income and paid dividends of $20,750.
Assuming that Matt owned the same percentage of Dallas throughout 2021, its percentage ownership must have been: (Round your answer to the
nearest whole percent):
Multiple Choice
25%.
27%.
71%.
19%.
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Transcribed Image Text:Matt accounts for its investment in Dallas Corporation under the equity method. Matt carried the Dallas investment at $150,900 and $165,600 at December 31, 2020, and December 31, 2021, respectively. During 2021 Dallas recognized $75,650 of net income and paid dividends of $20,750. Assuming that Matt owned the same percentage of Dallas throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent): Multiple Choice 25%. 27%. 71%. 19%. < Prev 4 of 16 Next >
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