Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a corporation using the equity method of accountin

A corporation using the equity method of accounting for its investment in a 60%owned investee,...

70.2K

Verified Solution

Question

Accounting

A corporation using the equity method of accounting for its investment in a 60%owned investee, which earned $20,000 and paid $5,000 in dividends What is the debit side of elimination entry of NCI in net income ?

Select one:

a. cash

b. investment

c. NCI in net income

d. NCI in net assets

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1. If the number of arrivals at a cell phone kiosk has a rate of 0.80...

Statistics
Q

(Without using library iee. if possible) Develop the text file and simulation for the 74LS194A universal,...

Electrical Engineering
Q

In a photo electric experiment under condition of saturation current we consider two different cro...

Physics
Q

The length of a rectangle is 5 yd more than twice the width x. The...

Basic Math
Q

10 Use implicit differentiation to find dy dx for the ellipse xy y 1 b...

Calculus
Q

5 4 3 2 1 5 4 3 2 1 7 2 3 5 4...

Calculus
Q

True or False: If your new balance is $395 and you made the minimum payment...

Algebra
Q

Question 5 2 pts Refer to the following information about the Finishing Department in the...

Accounting
Q

Bilz Company uses a predetermined overhead rate based on direct labor hours to allocate manufacturing...

Accounting
Q

The comparative financials of Stargel Inc is as follows. At December 31, 2015, Stargel inventory...

Accounting
Q

Implicit in the rate filing process is the suggestion that insurance commissioners and their staff...

Accounting
Q

CASE STUDY "Certainly, COVID-19 has already affected the way M&A transactions are being looked at,...

Accounting