How much investment revenue should McKinley report for year

Assignment Help Accounting Basics
Reference no: EM132629780

Question - McKinley Company owns 15,000 of the 50,000 outstanding shares of Ranier Corporation common stock and can exert significant influence over Ranier. For the year, Ranier earns $350,000 and pays cash dividends of $140,000.

How much investment revenue should McKinley report for the year?

a. $63,000

b. $210,000

c. $105,000

d. $140,000

e. $42,000

Reference no: EM132629780

Questions Cloud

Naive bayes and bayesian networks : What is the relationship between Naïve Bayes and Bayesian networks? What is the process of developing a Bayesian networks model?
Some advantages and disadvantages to this approach : What are some advantages and disadvantages to this approach? Is there another approach that might work better?
Find the total amount of product costs : Dake Corporation's relevant range of activity is 2,800 units to 6,000 units. For financial reporting purposes, find the total amount of product costs
Social media marketing-contemporary organization : Which case study in the paper was most interesting to you and why? Do you think that ERM is necessary in the contemporary organization and why?
How much investment revenue should McKinley report for year : Ranier earns $350,000 and pays cash dividends of $140,000. How much investment revenue should McKinley report for the year
Discuss the uses of IDaaS : Define and discuss the uses of IDaaS in at least two paragraphs. Also, find three IDaaS providers and compare and contrast their services.
What net effect on Comprehensive Income : Proper accounting for investments and the related Adjusting Journal Entries will have what net effect on 2026 Comprehensive Income
Prepare only the stockholder equity section : Preferred Stock, $100 par, 4% cumulative 100,000. Prepare only the Stockholder's Equity section of the Classified Balance Sheet for the year end
How many cds must be sold to break even : RBF, an emerging singer, is getting ready to cut his first album. The cost of recording the CD is Php 500,000 but copies are Php 500 apiece. If the album

Reviews

Write a Review

Accounting Basics Questions & Answers

  Arthur corporation has a margin of safety percentage of 25

1. valley manufacturing corporations beginning work in process inventory consisted of 15000 units 100 complete with

  What is the value of a share using the dividend growth model

The current annual dividend (just paid) is $3, and the required rate of return is 12 per cent. What is the value of a share using the dividend growth model

  How does standard costing relate to benchmarking

Access the annual report of Nokia (at www.Nokia.com) for the year ended December 31, 2009. The usefulness of its budgets, variances, and related analyses.

  Journalize the entries to close income summary

After closing all expense and revenue accounts at the end of the year, Income Summary has a credit balance of $90,000, that Sharp and Townson have agreed to split on a 2:1 basis, respectively.  (a) Journalize the entries to close the income summar..

  Which account may contain a transposition error

A trial balance has total debits of $197,900 and total credits of $199,700. Which account may contain a transposition error?

  Compute price and quality variances for nursing costs

the emergency room at rochester general hospital uses a flexible budget based on patients seen as the measure of

  Write the adjusting journal entry and adjusted trial balance

Write the adjusting journal entry and adjusted trial balance. At the end of the month, a physical count of Supplies revealed $3,000 on hand

  If steele company with a break-even point at 378000 of

been at this for an hour please explain and answer.a. if steele company with a break-even point at 378000 of sales has

  What represent the cyrrent yield

Robert paid $1000 for a 10 year bond with coupon rate equal to 8% when it was issued january 2. if robert sold the bond at the end of the year in which it was issued for a market price of $925, what portion of this return represent capital gai..

  How many kilograms were purchased

The standard cost of the material was $2.00 per kilogram and there was an unfavorable materials price variance of $3,280. How many kilograms were purchased

  What is the term used to describe the owners equity section

(a) What is the term used to describe the owner’s equity section of a corporation? (b) Identify the two owners’ equity accounts in a corporation and indicate the purpose of each.

  Calculate the amount of depreciation expense for each month

Calculate the amount of depreciation expense for each for the month ended February 28, 2014 assuming the company uses the double-declining-balance method for the computer and the straight line method for the office furniture.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd