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Marjam Company owns 88,200 shares of Mackenzie Company's 180,000 outstanding shares of common stock. MacKenzie Company pays $180,000 in total cash dividends to its shareholders.
Marjam Company owns 88,200 shares of Mackenzie Company's 180,000 outstanding shares of common stock. MacKenzie Company pays $180,000 in total cash dividends to its shareholders. Marjam's entry to record it's share of total cash dividend recelved from MacKenzle is: Multiple Choice Debit to Interest Revenue for $14,700. Credit to Equity Method Investments for $30,000. Credit to Equity Method Investments for $88,200. Credit to Dividend Revenue for $30,000. Debit to Dividend Revenue for $14,700
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