The Following Information Pertains to Questions

question 47

Short Answer

The following information pertains to questions
On January 1,2000,X Inc.purchased 12% of the voting shares of Y Inc for $100,000.The investment is reported at cost.X does not have significant influence over Y.Y's net income and paid dividends for the following three years are as follows:
-Which of the following journal entries would have to be made to record X's share of Y's net income for 2000?

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Definitions:

Productivity Suite

A collection of software applications typically including word processing, spreadsheets, presentations, and email management, used to produce work or conduct tasks.

G Suite

A collection of cloud-based services and tools provided by Google for business, including email, document editing, and collaboration software.

OpenOffice

A free, open-source office software suite for word processing, spreadsheets, presentations, graphics, databases, and more.

Apple IWork

A suite of productivity software developed by Apple Inc., including Pages, Numbers, and Keynote, designed for document creation, spreadsheet management, and presentation development.