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question pareto corporation owns 40 of spring corporation during year3 spring has ne 4277805

Question

Pareto Corporation owns 40% of Spring Corporation. During Year3, Spring has net income of $60,000. What entry should Paretorecord related to its investment in Spring during Year 3?

a.

Investment in SpringCorp.       24,000                 

   Equity in Earnings ofAffiliate            24,000

b.

DividendReceivable                24,000

   DividendIncome                                24,000

c.

InvestmentReceivable             24,000

   InvestmentIncome                             24,000

d.

Investment in SpringCorp.      24,000

   InvestmentIncome                             24,000

e.

Investment in SpringCorp.      24,000

   Cash                                                  24,000

 

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