Recent Posts • Latest Topics • Unanswered Questions

Retail Energy Corporation paid $1,300,000 on January 1, 2015, to purchase 32% of the outstanding ...

Tomm

wrote...

Go to Answer

Posts: 653

Rep:

6 years ago

Retail Energy Corporation paid $1,300,000 on January 1, 2015, to purchase 32% of the outstanding ...

Retail Energy Corporation paid $1,300,000 on January 1, 2015, to purchase 32% of the outstanding shares of Natural Gas Limited. In 2015 Natural Gas Limited reported $450,000 of net income and paid $100,000 in dividends. If this investment is accounted for using the equity method of accounting, what will be the impact on the books of Retail Energy Corporation?
A) income of $32,000 will be recorded
B) income of $144,000 will be recorded
C) the Investment account will be increased by $144,000
D) the Investment account will be decreased by $144,000

Textbook

Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

Read 88 times

1 Reply

Report

ACC 925

Replies

Answer verified by a subject expert

TheSin

wrote...

Posts: 380

Rep:

6 years ago

More solutions for this book are available here

Report

Related Topics

Tomm Author

wrote...

6 years ago

Thanks for your help!!

Natalie Price

wrote...

Yesterday

I appreciate what you did here, answered it right Smiling Face with Open Mouth

njn;l

wrote...

2 hours ago

this is exactly what I needed

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1507 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

286

230

1264

Your Opinion

Previous poll results: How often do you eat-out per week?

It's sore throat season, why does my mucus have red spots?

Strange Ingredients Lurking in Doritos Chips

Bonobos, Chimpanzees, and the 98% DNA Link

The Toxic Skin and Fungi Defense

Courses by Biology Forums

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.