Harrison Company bought 28,000 of 200,000 outstanding shares of Taylor Corporation in January 2018. In December,...
- Harrison Company bought 28,000 of 200,000 outstanding shares of Taylor Corporation in January 2018. In December, Taylor announced $200,000 net income for 2018 and declared and pain a cash dividend of $2 per share. Harrison Company’s Dividend revenue from Taylor Corporation in December 2018 would be:
- $56,000
- $0
- $28,000
- None of the above is correct
Homework Answers
| Particulars | Amount ($) |
| Shares held by Harrison Corporation | 28000 |
| Dividends issued per share | 2 per share |
| Dividend revenue (28000*2) | 56,000 |
Option A is correct.
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Harrison Company bought 28,000 of 200,000 outstanding shares of
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