Business, 25.07.2020 05:01 astarkey14

A corporation that uses the equity method of accounting for its investment in a 40%-owned investee (that earned $20,000 and paid $5,000 in dividends) made the following entries: Investment in investee $8,000 Investment Income $8,000 Investment in investee $2,000 Cash $2,000 What effect will these entries have on the investor’s statement of financial position?

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A corporation that uses the equity method of accounting for its investment in a 40%-owned investee (...