Harrison Co. owns 20,000 of the 50,000 outstanding ordinary shares of Taylor, Inc. During 2021, Taylor earns P800,000 and pays cash dividends of P640,000. If the beginning balance in the investment account was P500,000, the balance at December 31, 2021 should be a. P500,000 b.) P564,000 c.) P660,000 d.) P820,000
Harrison Co. owns 20,000 of the 50,000 outstanding ordinary shares of Taylor, Inc. During 2021, Taylor earns P800,000 and pays cash dividends of P640,000. If the beginning balance in the investment account was P500,000, the balance at December 31, 2021 should be a. P500,000 b.) P564,000 c.) P660,000 d.) P820,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 11MCQ
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Harrison Co. owns 20,000 of the 50,000 outstanding ordinary shares of Taylor, Inc. During 2021, Taylor earns P800,000 and pays cash dividends of P640,000. If the beginning balance in the investment account was P500,000, the balance at December 31, 2021 should be
a. P500,000
b.) P564,000
c.) P660,000
d.) P820,000
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