Dogma Ltd Records Its Investment in Fayer Co

question 45

Multiple Choice

Dogma Ltd. records its investment in Fayer Co. at cost. During the year, Dogma received $20,000 in dividends from Fayer. How should Dogma record these dividends?

• A)As dividend income in its statement of comprehensive income.
• B)As an increase to the "Investment in Fayer Co." account on its statement of financial position.
• C)As a decrease to the "Investment in Fayer Co." account on its statement of financial position.
• D)As dividend income on its statement of changes in equity-retained earnings section.

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