Use the Following Information to Solve the Following Questions

question 122

Multiple Choice

Use the following information to solve the following questions:
On January 1, 2020, Abalone Ltd. acquired 30% of Flounder Corp.'s common shares for $ 240,000. During 2020, Flounder reported net income of $ 100,000 and paid total dividends of $ 60,000. Abalone's 30% interest in Flounder gives Abalone the ability to exercise significant influence over their operating and financial policies. During 2021, Flounder reported net income of $ 150,000 and paid total dividends of $ 30,000 on April 1 and $ 40,000 on October 1. On July 1, 2021, Abalone sold half of its shares in Flounder for $ 158,000 cash.
-Before income taxes, what income should Abalone include in its 2020 income statement as a result of this investment?

• A) $ 100,000
• B) $ 60,000
• C) $ 30,000
• D) $ 18,000

Identify and understand the different human sensations and their functions.

Describe the sensory coding process and its aspects.

Understand the concept of sensory adaptation and its implications.

Comprehend the basics of vestibular and kinesthetic receptors' location and their roles.

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Definitions:

Equipment

Tangible property owned by a business that is used in its operations to generate income.

Working Capital

A measure of a company's short-term financial health and operational efficiency, calculated as current assets minus current liabilities.

Accrual

An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash transaction happens.