On December 31, 2021, Scott Company received the following dividends: Investee Company Investee's No. of shares Cost per share Percentage of ownership Type of dividends Dividends per share Frost Company Grey Company Blaire Company 100,000 200,000 200 10% Cash 20 250 15% Property 25 250,000 280 12% Shares 30 Grey Company will distribute its shares to Summers Company. How much is the total dividend income reported on December 31, 2021?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On December 31, 2021, Scott Company received the following dividends:
Investee Company
Investee's No. of shares
Cost per share
Percentage of ownership
Type of dividends
Dividends per share
Frost Company
100,000
200
10%
Cash
20
Grey Company
200,000
250
15%
Property
25
Blaire Company
250,000
280
12%
Shares
30
Grey Company will distribute its shares to Summers Company.
How much is the total dividend income reported on December 31, 2021?
Transcribed Image Text:On December 31, 2021, Scott Company received the following dividends: Investee Company Investee's No. of shares Cost per share Percentage of ownership Type of dividends Dividends per share Frost Company 100,000 200 10% Cash 20 Grey Company 200,000 250 15% Property 25 Blaire Company 250,000 280 12% Shares 30 Grey Company will distribute its shares to Summers Company. How much is the total dividend income reported on December 31, 2021?
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