Valix Finacc vol 1 Problem 11-6

Financial Accounting Volume 1 2008 Valix-Peralta
Chapter 1 Problem 11-6

1. Investment in equity securities                                                       6,000,000

            Cash                                                                                                              6,000,000

2. Cash (15% x 4,000,000)                                                                     600,000

            Dividend income (15% x 3,000,000)                                                                 450,000

            Investment in equity securities (15% x 1,000,000)                                              150,000