Laramie industries owns 45 of mccook company for the

Reference no: EM13612562

Laramie industries owns 45% of McCook Company. For the current year, McCook reports net income of $250,000 and declares and pays a $60,000 cash dividend. Which of the following correctly presents the journal entries to record Laramie's equity in McCook's net income and the receipt of dividends from McCook? Dec. 31 Stock Investments 112,500 Revenue from Stock Investments 112,500 Dec. 31 Cash 27,000 Stock Investments 27,000 Dec. 31 Stock Investments 112,500 Revenue from Stock Investments 112,500 Dec. 31 Cash 60,000 Stock Investments 60,000 Dec. 31 Stock Investments 85,500 Revenue from Stock Investments 85,500 Dec. 31 Revenue from Stock Investments 112,500 Stock Investments 112,500 Dec. 31 Stock Investments 27,000 Cash 27,000

Reference no: EM13612562

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