At the Beginning of 20X1,Anwar Ltd

question 32

Multiple Choice

At the beginning of 20X1,Anwar Ltd.acquired 15% of the voting shares of Cruz Co.for $150,000.Anwar does not have any significant influence over Cruz.Anwar reports the investment using the cost method.In 20X1,Cruz earned net income of $70,000 and paid dividends of $40,000.In 20X2,Cruz earned net income of $80,000 and paid dividends of $100,000.At the end of 20X2,what journal entry should Anwar make to record the dividends from Cruz?

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Definitions:

SII

Secondary somatosensory cortex, a region of the brain involved in the processing of tactile information from the body.

Paraplegia

A condition characterized by the paralysis of the lower half of the body, often resulting from spinal cord injury or disease.

Secondary Somatosensory Cortex

A part of the cerebral cortex that processes sensory input from the body, providing information about touch, vibration, and pressure.