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-.Andi Industries owns 10% of Stevens Company. For the current year, Stevens reports net income of $250,000 and declares and pays a $60,000 cash dividend.
-.Andi Industries owns 10% of Stevens Company. For the current year, Stevens reports net income of $250,000 and declares and pays a $60,000 cash dividend. Which of the following correctly presents the journal entries of Andi's Industries regarding Stevens net income and the receipt of dividends from Stevens? a. Dec. 31 Stock Investments... 25,000 Revenue from Stock Investments 25,000 Dec. 31 Cash........... 25,000 Stock Investments 25,000 b. Dec. 31 Stock Investments 6,000 Revenue from Stock Investments 6,000 Dec. 31 Cash............. 6,000 Stock Investments. 6,000 C. Dec. 31 Cash 6,000 Dividend Income 6,000
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