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Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradim E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At y shares were selling for £34.50 per share. How much total revenues (all revenues recognized from this investment during the year? Select one: 000

Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradim E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At y shares were selling for £34.50 per share. How much total revenues (all revenues recognized from this investment during the year? Select one: 000

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 6MCQ: Ames Corporation repurchases 10,000 shares of its common stock for $12 per share. The shares were...
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Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a trading investment for E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At year-end, Sherman shares were selling for £34.50 per share. How much total revenues (all revenues) should be recognized from this investment during the year? Select one: Oa. $1900 Ob. $700 OC $1300 Od. $600
Transcribed Image Text:Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a trading investment for E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At year-end, Sherman shares were selling for £34.50 per share. How much total revenues (all revenues) should be recognized from this investment during the year? Select one: Oa. $1900 Ob. $700 OC $1300 Od. $600
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