Question
A company invested $40,000 in Gibbs Co. stock. The investment represented 5% of the voting stock of Gibbs Co. If the Gibbs Co. stock investment
A company invested $40,000 in Gibbs Co. stock. The investment represented 5% of the voting stock of Gibbs Co. If the Gibbs Co. stock investment paid dividends, what account would be credited?
| A. Equity Investments | ||
| B. Dividend Revenue | ||
| C. Interest Revenue | ||
| D. Cash | ||
| E. None of the above |
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Accounting Concepts And Applications
Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice, Monte R. Swain
10th Edition
0324376154, 978-0324376159
