FINANCIAL ACCT.FUND.(LOOSELEAF)
7th Edition
ISBN: 9781260482867
Author: Wild
Publisher: MCG
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Question
Chapter C, Problem 3MCQ
To determine
Cash Dividend:
Dividend is the amount that earns the shareholders in
To identify: The correct option.
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Mozart Co. owns 35% of Melody Inc. Melody pays $50,000 in cash
dividends to its shareholders for the period. Mozart's entry to record the
Melody dividend includes a?
O Debit to Cash for $50,000
O Credit to Cash for $17,500
Credit to Investment Revenue for $50,000
O Credit to Equity Method Investments for $17,500
Segmental Manufacturing owns 35% of Glesson Corporation stock. Glesson pays a total of $47,000 in cash dividends for the
period. Segmental's entry to record the cash dividend received from Glesson would include a
Multiple Choice
Credit to Equity Method Investments for $16,450.
Debit to Equity Method Investments for $16,450.
Debit to Cash for $47,000.
Credit to Cash for $16,450.
Credit to Investment Revenue for $47,000.
O
a. Purchased 16,000 common shares of Heller Co. at $16 cash per share.
b. Received a cash dividend of $1.25 per common share from Heller.
c. Year-end market price of Heller common stock is $17.50 per share.
d. Sold all 16,000 common shares of Heller for $252,480 cash.
Note: For each account catégory, indicate the appropriate account name. Enter "N/A" for any account category that is not used for a given transaction.
Note: Indicate a decrease in an account category by including a negative sign with the amount.
Balance Sheet
Transaction
Cash
Asset
Noncash Assets
Liabilities
Contrib.
Capital
Earned
Capital
Income Statement
Revenues
Expenses
Net
Income
(256,000)✔
256,000
0 ✓
Cash
=
Investment
= ✓ N/A
✔ N/A
=
N/A
M/A
N/A
(b)
20,000 ▼
20,000✓
20,000 ✔
0✓ =
20,000 ✓
Cash
✓ N/A
÷ N/A
÷
✓ N/A
=
Retained earnings
Dividend income
=
✓ N/A
=
(c)
0✓
24,000 ✔
0✓
0✓
24,000 ▼
24,000
く
24,000
Cash
= Investment
✓ N/A
=
N/A
Retained earnings
nrealized gain
÷
(d)
252,480✔
(2.240,000) x-
28,480 x
Cash
÷
✓…
Chapter C Solutions
FINANCIAL ACCT.FUND.(LOOSELEAF)
Ch. C - Prob. 1MCQCh. C - Prob. 2MCQCh. C - Prob. 3MCQCh. C - Prob. 4MCQCh. C - Prob. 5MCQCh. C - Prob. 1DQCh. C - Prob. 2DQCh. C - Prob. 3DQCh. C - Prob. 4DQCh. C - Prob. 5DQ
Ch. C - Prob. 6DQCh. C - Prob. 7DQCh. C - Prob. 8DQCh. C - Prob. 9DQCh. C - Prob. 10DQCh. C - Prob. 11DQCh. C - Prob. 12DQCh. C - Prob. 13DQCh. C - Prob. 14DQCh. C - Prob. 1QSCh. C - Prob. 2QSCh. C - Prob. 3QSCh. C - Prob. 4QSCh. C - Prob. 5QSCh. C - Prob. 6QSCh. C - Prob. 7QSCh. C - Prob. 8QSCh. C - Prob. 9QSCh. C - Prob. 10QSCh. C - Prob. 11QSCh. C - Prob. 12QSCh. C - Prob. 13QSCh. C - Prob. 14QSCh. C - Prob. 15QSCh. C - Prob. 16QSCh. C - Prob. 17QSCh. C - Prob. 18QSCh. C - Prob. 1ECh. C - Prob. 2ECh. C - Prob. 3ECh. C - Prob. 4ECh. C - Prob. 5ECh. C - Prob. 6ECh. C - Prob. 7ECh. C - Prob. 8ECh. C - Prob. 9ECh. C - Prob. 10ECh. C - Transactions in held-to-maturity, trading, and...Ch. C - Prob. 12ECh. C - Prob. 13ECh. C - Prob. 14ECh. C - Prob. 15ECh. C - Prob. 16ECh. C - Prob. 17ECh. C - Prob. 1PSACh. C - Prob. 2PSACh. C - Prob. 3PSACh. C - Prob. 4PSACh. C - Prob. 5PSACh. C - Prob. 6PSACh. C - Prob. 1PSBCh. C - Prob. 2PSBCh. C - Prob. 3PSBCh. C - Prob. 4PSBCh. C - Prob. 5PSBCh. C - Prob. 6PSBCh. C - Prob. 1SPCh. C - Prob. 1GLPCh. C - Prob. 2GLPCh. C - Prob. 1AACh. C - Prob. 2AACh. C - Prob. 3AACh. C - Prob. 1BTNCh. C - Prob. 2BTNCh. C - Prob. 5BTN
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