Question
Pina Co. invested $920,000 in Grouper Co. for 25% of its outstanding stock. Grouper Co. pays out 30% of net income in dividends each year.
Pina Co. invested $920,000 in Grouper Co. for 25% of its outstanding stock. Grouper Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Grouper to answer the following questions.
| Investment in Grouper Co. | |
|---|---|
| 920,000 | |
| 99,000 | |
| 29,700 | |
(a) How much was Pina Co.s share of Grouper Co.s net income for the year?
| Net income | $enter Pinas net income in dollars |
(b) What was Grouper Co.s total net income for the year?
| Total net income | $enter the total net income of GrouperCo. for the year |
(c) What was Grouper Co.s total dividends for the year?
| Total Dividends | $enter the total dividends of GrouperCo. for the year |
(d) How much was Pina Co.s share of Grouper Co.s dividends for the year?
| Dividends | $enter the dollar amount of dividends for Pina Co. |
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Interne Revision In Verbundgruppen Und Franchise Systemen Verbreitung Und Qualit T Der Internen Revision In Unternehmensnetzwerken
Authors: Hans Ulrich Westhausen
1st. Aufl. 2016 Edition
3658121963, 978-3658121969
