Question
8.On January 1, 2020, Fraiser Corporation purchased 40% of the common shares of Niles Company for $411,000. During the year, River earned net income of
8.On January 1, 2020, Fraiser Corporation purchased 40% of the common shares of Niles Company for $411,000. During the year, River earned net income of $121,000 and paid dividends of $38,000. How much Investment Income would Fraiser Corporation record?
Select one:
a.$159,000
b.$63,600
c.$48,400
d.$121,000
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Technical Guide On Internal Auditing Including Internal Audit Survey 2014
Authors: Taxmann
2015th Edition
9350716615, 978-9350716618
