Pan Services,Inc.owns 35% of voting stock of Grey Investments,Inc.During the year 2017,Grey Investments,Inc.earned profits of $310,000.Under the equity method,which of the following journal entries will Pan Services record?
A) 
B) 
C) 
D) 
Correct Answer:
Verified
Q82: Kelly Financial Services,Inc.invested $33,000 to acquire 7,250
Q83: Middlebrook Financial Services,Inc.invested $24,000 to acquire 3,750
Q84: Elite Services,Inc.pays $1,950,000 to acquire 38% of
Q85: Glitter Services,Inc.pays $1,350,000 to acquire 35% of
Q87: The Long-term Investments account is debited for
Q89: Under the equity method,the investor _.
A)must debit
Q90: Jade Investments,Inc.purchased 40% of the common stock
Q91: Significant interest investments must be accounted for
Q113: A _ ownership in the investee's voting
Q116: Investments accounted for by the equity method
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents