Question

The beginning balance sheet of Music Source Co included a S700 000 investment in Eaten stock 40% ownership Music transactions: 1 (Click the icon to view the transactions.) Read the requirements Mar. 3 Purchased 9,000 shares at $13 per share of Rim Software common stock as a long-term equity investment, representing 2% ownership, no significant influence. May 15 Received a cash dividend of S0.76 per share on the Rim investment. Dec. 15 Received a cash dividend of $50,000 from Eaten investment Equity Investments-Eaten Revenue from Investments 31 Received Eaten's annual report showing $100,000 of net income. 31 Received Rim's annual report showing $110,000 of net income for the year. 31 Eaten's stock fair value at year-end was $690,000 31 Rim's common stock fair value at year-end was $14 per share Equity Investments Dividend Revenue Print Done Fair Value Adjustment-Equity Investments hoose from any list or enter any number in the input fields and then click Check Answer.

Answer 1