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Alinara [238K]
3 years ago
7

Trapp Company reported net income of $110,000 for 2019 and paid dividends of $60,000 on November 1, 2019. Grape Company owns 15%

of the common stock of Trapp and used the fair-value method to account for this investment. How much income should Grape recognize on this investment in 2019?
Business
1 answer:
MArishka [77]3 years ago
6 0

Answer:

$9,000

Explanation:

Given that,

Trapp Company reported,

Net income for 2019 = $110,000

Dividends paid on November 1, 2019 = $60,000

Grape Company owns 15% of the common stock of Trapp.

Using a fair-value method,

Therefore,

Income earned by Grape company is as follows:

= 15% of the total amount of dividend paid

= 0.15 × $60,000

= $9,000

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Answer:

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Explanation:

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3 years ago
The pier import store has cash of $34,600 and accounts receivable of $54,200. the inventory cost $92,300 and can be sold today f
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7 0
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The circular flow of income model shows
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the correct answer is letter C:)

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happy sunny or night

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2 years ago
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 answer:
 the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
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