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On January 15, 2016 IMA Consulting Business acquired 40% of the shares of URÀ A Firm for a total of €3,000,000. For the year 2017, URA reports net income of €600,000 declares and pays a cash dividend of €200,000. Which amount does IMA credit to the "Revenue from Share Investments"?

On January 15, 2016 IMA Consulting Business acquired 40% of the shares of URÀ A Firm for a total of €3,000,000. For the year 2017, URA reports net income of €600,000 declares and pays a cash dividend of €200,000. Which amount does IMA credit to the "Revenue from Share Investments"?

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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15 On January 15, 2016 IMA Consulting Business acquired 40% of the shares of URA Advisory Firm for a total of €3,000,000. For the year 2017, URA reports net income of €600,000. It also declares and pays a cash dividend of €200,000. Which amount does IMA credit to the account "Revenue from Share Investments"?
Transcribed Image Text:15 On January 15, 2016 IMA Consulting Business acquired 40% of the shares of URA Advisory Firm for a total of €3,000,000. For the year 2017, URA reports net income of €600,000. It also declares and pays a cash dividend of €200,000. Which amount does IMA credit to the account "Revenue from Share Investments"?
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