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X Corporation Owns 80 Percent of Y Corporation's Common Stock

Question 20

Multiple Choice

X Corporation owns 80 percent of Y Corporation's common stock and 40 percent of Z Corporation's common stock.Additionally,Y Corporation owns 35 percent of Z Corporation's common stock.The acquisitions were made at book values.The following information is available for 2008:
X Corporation owns 80 percent of Y Corporation's common stock and 40 percent of Z Corporation's common stock.Additionally,Y Corporation owns 35 percent of Z Corporation's common stock.The acquisitions were made at book values.The following information is available for 2008: -Based on the information provided,what amount will be reported as dividends declared in X Corporation's 2008 consolidated retained earnings statement? A) $30,000 B) $50,000 C) $60,000 D) $0
-Based on the information provided,what amount will be reported as dividends declared in X Corporation's 2008 consolidated retained earnings statement?


A) $30,000
B) $50,000
C) $60,000
D) $0

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