Matt accounts for its investment in Dallas Corporation under the equity method. Matt carried the Dallas investment at $150,900 and $165,600 at December 31, 2020, and December 31, 2021, respectively. During 2021 Dallas recognized $75,650 of net income and paid dividends of $20,750. Assuming that Matt owned the same percentage of Dallas throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent): Multiple Choice 25%. 27%. 71%. 19%.
Matt accounts for its investment in Dallas Corporation under the equity method. Matt carried the Dallas investment at $150,900 and $165,600 at December 31, 2020, and December 31, 2021, respectively. During 2021 Dallas recognized $75,650 of net income and paid dividends of $20,750. Assuming that Matt owned the same percentage of Dallas throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent): Multiple Choice 25%. 27%. 71%. 19%.
Chapter10: Deductions And Losses: Certain Itemized Deductions
Section: Chapter Questions
Problem 31P
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