Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Solving and explanation Land Services , Inc . owns 32%/ of voting stock of World Investments , Inc . During the year 2018 . WorldInivevestments
Solving and explanation
Land Services , Inc . owns 32%/ of voting stock of World Investments , Inc . During the year 2018 . WorldInivevestments , Inc . earned profits of $320, 000 . Under the equity method , which of the following journalentries will Land Services record ?"A.Equity*Investmentslong dash - WorldInvestments , Inc .320, 000Cash320, 000BCash102, 400Dividend Revenue102, 400EquityInvestmentslong dash - WorldInvestments , Inc .102, 400Revenue from Investments*102, 400D.Cash102, 400EquityInvestmentslong dash - WorldInvestments , Inc.102, 400Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started