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In 2015, Gigajoule Corporation used the equity method to account for a 25% ownership interest in ...

In 2015, Gigajoule Corporation used the equity method to account for a 25% ownership interest in Megawatt Corporation. If Megawatt Corporation reports $400,000 of income and pays $80,000 of dividends in 2015, the net effect of the entries made by Gigajoule Corporation in 2015 will be to:
A) reduce the Investment account by $320,000
B) reduce the Investment account by $80,000
C) increase the Investment account by $320,000
D) increase the Investment account by $80,000

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Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

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