Johnson corp purchased a 30 interest in burke company on


Question - Johnson Corp. purchased a 30% interest in Burke Company on July 1, 2013. On November 15, 2013 Burke paid dividends of $20,000 to its common stockholders. The investee reported 2013 net income of $60,000, which was earned evenly throughout the year. What amount of Equity Income should Johnson report in its 2013 income statement?

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Accounting Basics: Johnson corp purchased a 30 interest in burke company on
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