Paxel owns 80 of saxels outstanding common stock. for 2009, Ask an Expert

Accounting

Paxel owns 80% of Saxel's outstanding common stock. For 2009, Saxel reported $60,000 of net income and declared dividends of $10,000. What amount appears in Paxel's 2009 income statement if Paxel accounts for its investment using the equity method?

a. $-0-

b. $8,000

c. $40,000

d. $48,000

e. $56,000

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Accounting Basics, Accounting

Category:- Accounting Basics
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