Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a trading investment forE13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At year-end, Shermanshares were selling for £34.50 per share. How much total revenues (all revenues) should berecognized from this investment during the year?Select one:Oa. $1900Ob. $700OC $1300Od. $600

Ans. Total revenue to be recognised is the total dividend received and the appreciation in the share…

Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradim E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At y shares were selling for £34.50 per share. How much total revenues (all revenues recognized from this investment during the year? Select one: 000

Fairbanks Corporation purchased 400 ordinary shares of Sherman Inc. as a tradim E13,200. During the year, Sherman paid a cash dividend of £3.25 per share. At y shares were selling for £34.50 per share. How much total revenues (all revenues recognized from this investment during the year? Select one: 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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