Business, 08.10.2019 06:00, Fireburntbudder

Frisco corporation uses the equity method of accounting for its investment in a 30%-owned investee that earned $56,000 and paid $18,000 in dividends. as a result, frisco corporation made the following entries: equity investment 16,800 equity income 16,800 cash 5,400 dividend revenue 5,400 what effect will these entries have on frisco corporation's balance sheet? a. investment understated, retained earnings understated b. investment overstated, retained earnings understated c. investment overstated, retained earnings overstated

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Frisco corporation uses the equity method of accounting for its investment in a 30%-owned investee t...