On 1 January 2017, Al Yousef Group acquired 30% of the outstanding voting shares of Saleh Enterprises for OMR 2,000,000 in cash, a price that was equal to 30% of Saleh's net assets. The investment gave Al Yousef significant influence over Saleh. During the year ending December 31, 2017, Saleh had Net Income of OMR 200,000 and paid dividends of OMR 40,000. For the year ending December 31, 2018, Saleh had a net income of OMR 250,000, and paid dividends of OMR 50,000. For the year ending December 31, 2019, Saleh's business started to have some operational issues that they had a Net Loss of OMR 25,000, however they still managed to pay dividends of OMR 10,000. For the year ending December 31, 2020, because of COVID-19, Saleh had a Net Loss of OMR 50,000 and no dividends have been paid for 2020. Please answer the following questions pertaining to Al Yousef Company: Questions No. 32, 33 and 34 What will be the journal entry to record their share in Saleh's dividends on December 31, 2019? O a. Dr. Cash 10,000 and Cr. Investment 10,000 O b. Dr. Investment 3,000 and Cr. Cash 3,000 Dr. Cash 3,000 and Cr. Investment 3,000 d. Dr. Investment 10,000 and Cr. Cash 10,000 What will be the journal entry to record the purchase of Saleh's shares on 1 January 2017? Dr. Cash 2,000,000 and Cr. Investment 2,000,000 b. Dr. Cash 600,000 and Cr. Investment 600,000 O c. Dr. Investment 2,000,000 and Cr. Cash 2,000,000 O d. Dr. Investment 600,000 and Cr. Cash 600,000 What will be the journal entry to record their share in Saleh's dividends on December 31, 2018? Dr. Cash 50,000 and Cr. Investment 50,000 b. Dr. Investment 50,000 and Cr. Cash 50,000 O c. Dr. Investment 15,000 and Cr. Cash 15,000 O d. Dr. Cash 15,000 and Cr. Investment 15,000 On 1 January 2017, Al Yousef Group acquired 30% of the outstanding voting shares of Saleh Enterprises for OMR 2,000,000 in cash, a price that was equal to 30% of Saleh's net assets. The investment gave Al Yousef significant influence over Saleh. During the year ending December 31, 2017, Saleh had Net Income of OMR 200,000 and paid dividends of OMR 40,000. For the year ending December 31, 2018, Saleh had a net income of OMR 250,000, and paid dividends of OMR 50,000. For the year ending December 31, 2019, Saleh's business started to have some operational issues that they had a Net Loss of OMR 25,000, however they still managed to pay dividends of OMR 10,000. For the year ending December 31, 2020, because of COVID-19, Saleh had a Net Loss of OMR 50,000 and no dividends have been paid for 2020. Please answer the following questions pertaining to Al Yousef Company: Questions No. 32, 33 and 34 What will be the journal entry to record their share in Saleh's dividends on December 31, 2019? O a. Dr. Cash 10,000 and Cr. Investment 10,000 O b. Dr. Investment 3,000 and Cr. Cash 3,000 Dr. Cash 3,000 and Cr. Investment 3,000 d. Dr. Investment 10,000 and Cr. Cash 10,000 What will be the journal entry to record the purchase of Saleh's shares on 1 January 2017? Dr. Cash 2,000,000 and Cr. Investment 2,000,000 b. Dr. Cash 600,000 and Cr. Investment 600,000 O c. Dr. Investment 2,000,000 and Cr. Cash 2,000,000 O d. Dr. Investment 600,000 and Cr. Cash 600,000 What will be the journal entry to record their share in Saleh's dividends on December 31, 2018? Dr. Cash 50,000 and Cr. Investment 50,000 b. Dr. Investment 50,000 and Cr. Cash 50,000 O c. Dr. Investment 15,000 and Cr. Cash 15,000 O d. Dr. Cash 15,000 and Cr. Investment 15,000
