AeVeigh Corporation owns 40% of Gondor Company's common stock. McVeigh recelved $61.600 in cash dividends from Gondor. The entry to record he cash dividend received from Gondor would include a: Multiple Choice Credit ta Dividena Revenue for 5154,000. Debil to Oividend Revenue for 561600 . Credt to Equily Method investments for $154,000. Creot 1o Cosh for $61600. Ciedit to Equity Method hivestments for 161600 When preparing the opereting activities section of the statement of cash flows using the indirect method, depreciation expense is added back to net. income.
When preparing the operating activities section of the statement of cash flows using the indirect method, depreciation expense is added back to net income.
The correct multiple-choice answer for the entry to record the cash dividend received from Gondor would be "Credit to Dividend Revenue for $61,600."
As for the second statement, when preparing the operating activities section of the statement of cash flows using the indirect method, depreciation expense is subtracted from net income.