Merckle Corporation owns 40 percent of the voting stock of Grant Corporation and accounts for the investment using the equity method; Grant Corporation reports a net loss of $30,000. Merckle Corporation's entry to record the share of loss is:
A) Loss, Grant Corporation Investment 12,000Investment in Grant Corporation 12,000
B) Investment in Grant Corporation 12,000Loss, Grant Corporation Investment 12,000
C) Investment in Grant Corporation 30,000Cash 30,000
D) Investment in Grant Corporation 12,000Cash 12,000
A
You might also like to view...
Which of the following is true regarding the HUD Section 8 Housing Choice Voucher Program.
a. It provides low income housing. b. Provides low rent housing. c. It provides government housing projects. d. It is the federal governments major program for assisting very low income families, the elderly, and the disable to afford housing in the private market.
Which of the following actions should a marketer take in response to the new economy?
A) Offer selected discounts. B) Cut marketing budgets. C) Hold the line on prices. D) Cut costs. E) Discontinue products.