Buford Industries Owns 40% of Appalachian Company

question 22

Short Answer

Buford Industries owns 40% of Appalachian Company. For the current year, Appalachian reports net income of $250,000 and declares and pays a $70,000 cash dividend. Which of the following correctly presents the journal entries to record Buford's equity in Appalachian net income and the receipt of dividends from Appalachian?

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Definitions:

Informatics

The study or practice of processing, managing, and retrieving information, particularly through the use of technology, in various fields including healthcare and computing.

Evidence-Based Practice

Use of current best evidence from nursing research, clinical expertise, practice trends, and patient preferences to guide nursing decisions about care provided to patients.

Healthcare Effectiveness

The degree to which healthcare services increase the likelihood of desired health outcomes and are consistent with current professional knowledge.

Health Plans

Insurance schemes or programs that provide coverage for medical services and support health care management.