Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2015 2014 $694 54 1.232 S millions Beginning of year Additional investments DIRECTV investments acquired Equity in net income of affiliates Dividends and distributions received

image text in transcribed
2015 2014 $694 54 1.232 S millions Beginning of year Additional investments DIRECTV investments acquired Equity in net income of affiliates Dividends and distributions received Sale of America Movil shares Other adjustments End of year (30) (148) 3.817) (46) 5694 (2) $2,065 Undistributed earnings from equity affiliates were $162 and $88 at December 31, 2015 and 2014 a. At what amount is the equity investment in affiliates reported on AT&T's balance sheet? $ 0 x million b. Did affiliates pay dividends in 2015? Yes, the receipt of dividends would reduce the balance of the equity method investment account, which is shown in the table. ONo, the receipt of dividends would increase the balance of the equity method investment account rather than reduce it as shown in the tab ONot enough information is provided to determine if the affiliates paid dividends in 2015. c. How much income did AT&T report in 2015 relating to this investment in affiliates? $ 0 x million

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Wiley CPAexcel Exam Review April Study Guide Regulation 2017

Authors: Wiley

2nd Edition

1119369436, 978-1119369431

More Books

Students also viewed these Accounting questions

Question

gpt 1 7 9 .

Answered: 1 week ago