Ziek Corp. acquired a 30% interest in ZKI Corporation on December 31, 2020 for $2,159,000. During 2021, ZKI had net income of $864,000 and paid cash dividends of $605,000. At December 31, 2021, what should be the balance in the Investment in ZKI account? (A 36) O $77,700 O $2,159,000 O $2,236,700 O $2,599,700
Ziek Corp. acquired a 30% interest in ZKI Corporation on December 31, 2020 for $2,159,000. During 2021, ZKI had net income of $864,000 and paid cash dividends of $605,000. At December 31, 2021, what should be the balance in the Investment in ZKI account? (A 36) O $77,700 O $2,159,000 O $2,236,700 O $2,599,700
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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) Ziek Corp. acquired a 30% interest in ZKI Corporation on December 31, 2020 for $2,159,000. During 2021, ZKI had net income of $864,000 and paid cash dividends of $605,000. At December 31, 2021, what should be the balance in the Investment in ZKI account? (A 36) O $77,700 O $2,159,000 O $2,236,700 O $2,599,700
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