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Marjam Company owns 84,000 shares of Mackenzie Company's 150,000 outstanding shares of common stock. Mackenzie Company pays $150,000 in total cash dividends to its shareholders.
Marjam Company owns 84,000 shares of Mackenzie Company's 150,000 outstanding shares of common stock. Mackenzie Company pays $150,000 in total cash dividends to its shareholders. Marjam's entry to record the cash dividend received from Mackenzie would include: 0 Credit to Faulty Method Investments for $84.000 0 Debit le Divisorid Revenue los $15.400 0 Credit to Dividend Revenue for $27.500. 0 Debit to Interest Havenue for $15.400 0 ) Credit to Equity Methed Investments for 527,500
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