FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Nacho Mama's Cantina has several investments that pay annual dividends.
Mama reported dividend revenue of $38,800 on her income statement dated December 31, 20x7.
If the balance in Mama's dividends receivable account on January 1, 20x7 was $4,400, and her ending balance in that account on December
31, 20x7 was $7,000,
how much cash did Mama receive from dividends during 20x7?
Multiple Choice
$38,800.
$31,800.
$41.400
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Transcribed Image Text:Nacho Mama's Cantina has several investments that pay annual dividends. Mama reported dividend revenue of $38,800 on her income statement dated December 31, 20x7. If the balance in Mama's dividends receivable account on January 1, 20x7 was $4,400, and her ending balance in that account on December 31, 20x7 was $7,000, how much cash did Mama receive from dividends during 20x7? Multiple Choice $38,800. $31,800. $41.400
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