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Mars Services, Inc. pays $7,000,000 to acquire 30% (200,000 shares) of the voting stock of Grey Investments, Inc. on January 5, 2017. The investment is
Mars Services, Inc. pays $7,000,000 to acquire 30% (200,000 shares) of the voting stock of Grey Investments, Inc. on January 5, 2017. The investment is classified as equity securities with significant influence. Grey Investments, Inc. declares and pays a cash dividend of $4.4 per share on June 14, 2017. Which of the following is the correct journal entry for the transaction on June 14, 2017? Cash Dividend Revenue Cash Dividend Revenue Cash Equity Investment-Grey Debit 88,000 Debit 880,000 Debit 880,000 Equity Investment-Grey Revenue from Equity Investment Debit 880,000 Credit 88,000 Credit 880,000 Credit 880,000 Credit 880,000 
Mars Services, Inc. pays $7,000,000 to acquire 30%(200,000 shares) of the voting stock of Grey Investments, Inc, on January 5, 2017. The investment is classified as equity securities with significant influence. Grey Investments, Inc, declares and pays a cash dividend of $4,4 per share on June 14,2017 . Which of the following is the correct journal entry for the transaction on June 14,2017 ? Mars Services, Inc. pays $7,000,000 to acquire 30%(200,000 shares) of the voting stock of Grey Investments, Inc. on January 5, 2017. The investment is classified as equity securities with significant influence. Grey Investments, Inc. declares and pays a cash dividend of $4.4 per share on June 14,2017 . Which of the following is the correct journal entry for the transaction on June 14,2017? Mars Services, Inc. pays $7,000,000 to acquire 30%(200,000 shares) of the voting stock of Grey Investments, Inc, on January 5, 2017. The investment is classified as equity securities with significant influence. Grey Investments, Inc, declares and pays a cash dividend of $4,4 per share on June 14,2017 . Which of the following is the correct journal entry for the transaction on June 14,2017 ? Mars Services, Inc. pays $7,000,000 to acquire 30%(200,000 shares) of the voting stock of Grey Investments, Inc. on January 5, 2017. The investment is classified as equity securities with significant influence. Grey Investments, Inc. declares and pays a cash dividend of $4.4 per share on June 14,2017 . Which of the following is the correct journal entry for the transaction on June 14,2017
Mars Services, Inc. pays $7,000,000 to acquire 30% (200,000 shares) of the voting stock of Grey Investments, Inc. on January 5, 2017. The investment is classified as equity securities with significant influence. Grey Investments, Inc. declares and pays a cash dividend of $4.4 per share on June 14, 2017. Which of the following is the correct journal entry for the transaction on June 14, 2017? Cash Dividend Revenue Cash Dividend Revenue Cash Equity Investment-Grey Debit 88,000 Debit 880,000 Debit 880,000 Equity Investment-Grey Revenue from Equity Investment Debit 880,000 Credit 88,000 Credit 880,000 Credit 880,000 Credit 880,000
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
