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What was Ayayai Co total net income for the year

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Reference no: EM132838375

Question - Cheyenne plc invested £1,100,000 in Ayayai Co. for 25% of its outstanding shares. Ayayai Co. pays out 30% of net income in dividends each year.

Investment in Ayayai Co.

1,100,000

108,000 32,400

Use the information in the following T-account for the investment in Ayayai to answer the following questions.

(a) How much was Cheyenne plc's share of Ayayai Co.'s net income for the year?

(b) How much was Cheyenne plc's share of Ayayai Co.'s dividends for the year?

(c) What was Ayayai Co.'s total net income for the year?

(d) What was Ayayai Co.'s total dividends for the year?

Reference no: EM132838375

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