Question
Just give me the correct answer Birzeit Corporation earns $580,000 in net income and pays cash dividends of $160,000 during 2020. Ramallah Corporation owns 3,000
Just give me the correct answer
Birzeit Corporation earns $580,000 in net income and pays cash dividends of $160,000 during 2020. Ramallah Corporation owns 3,000 of the 10,000 outstanding shares of Birzeit Corporation. How much investment income should Ramallah report in 2020? Select one: a. $96,000. b. $580,000. c. $144,000. d. $174,000.
At December 31, 2020, Jeter Corporation had the following equity securities that were purchased during 2019. Available-for-Sale Securities: Cost Fair Value Security Y $ 70,000 $ 100,000 Security z 85,000 80,000 Totals $155,000 $180,000 Previous fair value adjustments balance debit $7,500. At December 31, 2020 Jeter Corporation makes this adjusting entry: Select one: a. Debit Fair Value Adjustment - AFS for $17,500 and credit Unrealized Holding Gain/Loss-Income for $17,500. b. Debit Fair Value Adjustment - AFS for $32,500 and credit Unrealized Holding Gain/Loss-Income for $32,500. c. Debit Fair Value Adjustment - AFS for $32,500 and credit Unrealized Holding Gain/Loss-Equity for $32,500. d. Debit Fair Value Adjustment - AFS for $17,500 and credit Unrealized Holding Gain/Loss-Equity for $17,500.
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