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aleksklad [387]
2 years ago
5

Savannah Corporation purchased 35,000 shares of common stock of the Boulet Corporation for $50 per share on January 2, 2017. Dur

ing 2017, Boulet Corporation had 140,000 shares of common stock outstanding, paid cash dividends of $120,000, and reported net income of $320,000. Savannah Corporation should report revenue from investment for 2017 in the amount of $30,000. $50,000. $80,000. $0.
Business
1 answer:
Elena L [17]2 years ago
5 0

Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.

<h3>Amount to be reported as revenue</h3>

First step

Percentage ownership=35,000/140,000 shares ×100

Percentage ownership=25%.

Second step

Using equity method

Revenue from investment=25%× $320,000

Revenue from investment=$80,000

Therefore Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.

Learn more about revenue here:brainly.com/question/24280609

#SPJ4

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