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Roberts owns 40% of Simpson. On April 1, 2020 Roberts reduces its ownership of Simpson to 10%. From January 1-March 31 Simpson earns $80,000 and pays dividends of $30,000. From April 1- December 31 Simpson earns $300,000 and pays dividends of $100,000. What is the total income reported by Roberts in 2020

Roberts owns 40% of Simpson. On April 1, 2020 Roberts reduces its ownership of Simpson to 10%. From January 1-March 31 Simpson earns $80,000 and pays dividends of $30,000. From April 1- December 31 Simpson earns $300,000 and pays dividends of $100,000. What is the total income reported by Roberts in 2020

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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 Roberts owns 40% of Simpson. On April 1, 2020 Roberts reduces its ownership of Simpson to 10%. From January 1-March 31 Simpson earns $80,000 and pays dividends of $30,000. From April 1- December 31 Simpson earns $300,000 and pays dividends of $100,000.

What is the total income reported by Roberts in 2020

 

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