Quick Investment Company (QIC)began operations on January 1, 2012. It acquired the following investments: QIC earned interest of $12,000 during 2012. Dividends of $16,000 were declared on the shares it owned during 2012. Of that amount, $9,000 was received in December 2012 and $7,000 was received in January 2013 (note that the ex-dividend date for these shares was prior to the end of the year). How much would QIC's total income from its investments be on its regular income statement for the year ended December 31, 2012?

Question

Quick Investment Company (QIC)began operations on January 1, 2012. It acquired the following investments:  QIC earned interest of $12,000 during 2012. Dividends of $16,000 were declared on the shares it owned during 2012. Of that amount, $9,000 was received in December 2012 and $7,000 was received in January 2013 (note that the ex-dividend date for these shares was prior to the end of the year). How much would QIC's total income from its investments be on its regular income statement for the year ended December 31, 2012?

Quizplus · Accepted Answer

The Answer of Quick Investment Company (QIC)began operations on January 1, 2012. It acquired the following investments:  QIC earned interest of $12,000 during 2012. Dividends of $16,000 were declared on the shares it owned during 2012. Of that amount, $9,000 was received in December 2012 and $7,000 was received in January 2013 (note that the ex-dividend date for these shares was prior to the end of the year). How much would QIC's total income from its investments be on its regular income statement for the year ended December 31, 2012?

Quick Investment Company (QIC)began Operations on January 1, 2012