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Determine fidel investment in rindu ltd account at december

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Problem 1: On January 2, 2020, Fidel Corp. purchased 200 of the 1,000 outstanding common shares of Rindu Ltd. for $ 60,000. During 2020, Rindu declared total cash dividends of $ 10,000 and reported net income for the year of $ 40,000. If Fidel uses the equity method of accounting for its investment in Rindu, Fidel's Investment in Rindu Ltd. account at December 31, 2020 should be

Option a) $ 68,000.

Option b) $ 66,000.

Option c) $ 60,000.

Option d) $ 58,000.

Reference no: EM132618969

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