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Home Q & A Board Other Fields Homework Help Business Accounting
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Tomm Tomm
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6 years ago
Power Generation Corp. owns 38% of Electric Limited. Net income for Electric Limited for the year ending December 31, 2014, is $450,000. The journal entry prepared by Power Generation Corp. on December 31, 2014, includes a:
A) debit to Cash for $171,000
B) credit to Long-Term Investment for $171,000
C) debit to Long-Term Investment for $450,000
D) debit to Long-Term Investment for $171,000
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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ACC 925
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msayed2004msayed2004
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6 years ago
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Tomm Author
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6 years ago
Smart ... Thanks!
mikey3091
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Yesterday
Good timing, thanks!
kh540941
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2 hours ago
Thanks for your help!!
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