What amount should Romina Inc. report as dividend income?
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 20EA: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600...
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Romina Inc. purchased 160,000 shares of Magui Company for $60 each. One month after the purchase, Magui Company declared a 2-for-1 stock split down. Romina Inc. subsequently sold 20,000 shares. During the last month of the reporting period, Magui Company declared $0.80 dividend per share. What amount should Romina Inc. report as dividend income?
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