Question 20 Not yet answered Marked out of 1.00 Flag question Under the equity method of accounting, a parent company's journal entry to record a dividend declared and paid by the subsidiary includes a debit to cash account and a credit to the investment account Select one: True False Question 19 Not yet answered Marked out of 1.50 Flag question P Co paid $140,000 for 70% interest in Sco. on 1/1/ 2019,when Shad Capital Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as recorded on book values. During 2019, S had income of $20,000, declared dividends of $7,500, On 31/12/2019, the consolidated financial statements will show income for Non controlling interest for 2019 ? Select one: a. 6,000 b. 14,000 c. 12,000 d. 5,250