Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 13, 2024

Drabble, Inc. owns 40 percent of the outstanding stock of Gilliam Company. During 2014, Drabble received a $4,000 cash dividend from Gilliam. What effect did

Drabble, Inc. owns 40 percent of the outstanding stock of Gilliam Company. During 2014, Drabble received a $4,000 cash dividend from Gilliam. What effect did this have on Drabble's 2014 financial statements? (Assume that Drabble has substantial influence over Gilliam)

Question 1 options:

Increased total assets

Decreased total assets

Increased income

Decreased investment account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

Management Accounting

Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton

7th Edition

978-1760421144, 1760421146

More Books

Students also viewed these Accounting questions

Question

★★★★★

KEW Corp. has 500,000 shares of common stock outstanding. In 2014, KEW reports income from continuing operations before taxes of $4,350,000. Additional transactions from 2014and not considered in the...

Answered: 1 week ago

Question

★★★★★

Statistical Literacy When are two random samples independent? AppendixLO1

Answered: 1 week ago

Question

★★★★★

=+b) The next value in the series was, in fact, 138.90. Compute the APE.

Answered: 1 week ago

Question

★★★★★

A process is in statistical control with x = 199 and R = 3.5. The control chart uses a sample size of n= 4. Specifications are at 200 ± 8. The quality characteristic is normally distributed....

Answered: 1 week ago

Question

★★★★★

At least in theory, the design of a block cipher is generally made more secure by: 11. increasing the number of rounds used in a block cipher, using a block cipher with a larger block size. (a) For...

Answered: 1 week ago

Question

★★★★★

The evaluation of IT and IS practices and operations includes ______. Question 60 options: assessment of internal IT controls to assure the validity, reliability, and security of information...

Answered: 1 week ago

Question

★★★★★

Describe effectiveness of reading at night?

Answered: 1 week ago

Question

★★★★★

find all matrices A (a) A = 13 (b) A + A = 213

Answered: 1 week ago

Question

★★★★★

Exercise 15-30 (Algo) Evaluate Transfer Pricing System (LO 15-2, 3) Hardyke Group operates a local after-school recreation and activities program. The Education Department is a state governmental...

Answered: 1 week ago

Question

★★★★★

Golden Food Products produces special - formula pet food. The company carries no inventories. The master budget calls for theRequired: Prepare a profit variance analysis. Note: Enter your answers in...

Answered: 1 week ago

Question

★★★★★

Redwood Company sells craft kits and supplies to retail outlets and through its catalog. Some of the items are manufactured by Redwood, while others are purchased for resale. For the products it...

Answered: 1 week ago

Question

★★★★★

(h) Twenty-five percent of the engines manufactured are defective. If engines are randomly selected. calculate the probability that (i) the first defective engine will he found on the sixth engine....

Answered: 1 week ago

Question

★★★★★

An improvement in the exchange of information in negotiations.

Answered: 1 week ago

Question

★★★★★

1. Effort is important.

Answered: 1 week ago

Question

★★★★★

2. Set up two points representing the pillars of your values system. Discuss this with the others in the group.

Answered: 1 week ago

Previous Question Next Question