Question
Question 24 McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock and can exert significant influence over Ranier. During 2009,
Question 24
McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock and can exert significant influence over Ranier. During 2009, Ranier earns $350,000 and pays cash dividends of $140,000.
What is the net change in McKinley's Investment account during 2009?
Select one:
a. $63,000
b. $210,000
c. $105,000
d. $140,000
e. $42,000
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Financial Accounting Theory And Analysis Text And Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
14th Edition
1119881226, 978-1119881223
