William accounts for its investment in Baker Company under the equity method. William carried the Baker investment at $150,550 and $165,350 at December 31, 2020, and December 31, 2021, respectively. During 2021 Baker recognized $75,100 of net income and paid dividends of $20,350. Assuming that William owned the same percentage of Baker throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent):
William accounts for its investment in Baker Company under the equity method. William carried the Baker investment at $150,550 and $165,350 at December 31, 2020, and December 31, 2021, respectively. During 2021 Baker recognized $75,100 of net income and paid dividends of $20,350. Assuming that William owned the same percentage of Baker throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent):
Chapter9: Acquisitions Of Property
Section: Chapter Questions
Problem 65P
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William accounts for its investment in Baker Company under the equity method. William carried the Baker investment at $150,550 and $165,350 at December 31, 2020, and December 31, 2021, respectively. During 2021 Baker recognized $75,100 of net income and paid dividends of $20,350. Assuming that William owned the same percentage of Baker throughout 2021, its percentage ownership must have been: (Round your answer to the nearest whole percent):
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT