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Gold Co. received dividends from its common stock investments during the year ended December 31 as follows: * A cash dividend totaling $50,000 from its trading security investment in Hico Corporation, when the market price of Hico's shares was $40 per share * A cash dividend of $20,000 from Garden Corp. in which Gold Co. owns a 32% interest How much dividend income should Gold report in its income statement?   Select one: a. $30,000 b. $0 c. $50,000 d. $20,000

Gold Co. received dividends from its common stock investments during the year ended December 31 as follows: * A cash dividend totaling $50,000 from its trading security investment in Hico Corporation, when the market price of Hico's shares was $40 per share * A cash dividend of $20,000 from Garden Corp. in which Gold Co. owns a 32% interest How much dividend income should Gold report in its income statement?   Select one: a. $30,000 b. $0 c. $50,000 d. $20,000

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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Gold Co. received dividends from its common stock investments during the year ended December 31 as follows:
*
A cash dividend totaling $50,000 from its trading security investment in Hico Corporation, when the market price of Hico's shares was $40 per share
*
A cash dividend of $20,000 from Garden Corp. in which Gold Co. owns a 32% interest

How much dividend income should Gold report in its income statement?

 

Select one:
a. $30,000
b. $0
c. $50,000
d. $20,000
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