Assume the Same Data That Was Used to Answer Question

question 20

Short Answer

assume the same data that was used to answer question 20 through 25 with the following exceptions:
X owns 25% of Y's voting shares.
X has significant influence over Y
-Which of the following journal entries would have to be made to record X's share of Y's dividends paid for 2000?

---

Definitions:

Respondeat Superior

A legal doctrine holding an employer or principal legally responsible for the wrongful acts of an employee or agent.

Tort

A civil wrong or infringement of a right leading to legal liability, distinct from breach of contract.

Principal Liability

refers to the legal responsibility of a principal (an individual or entity) for the actions of their agents or representatives conducted within the scope of their agency or employment.

Principal/Employer-Agent/Employee Relationship

Refers to the legal bond between an employer who delegates tasks, and an employee who performs these tasks on the employer's behalf.