The journal entry to record the receipt of a stock dividend arising from an available-for-sale investment held by a company includes:
A) a debit to Unrealized Gain on Investment and a credit to Dividend Revenue.
B) a debit to Cash and a credit to Dividend Revenue.
C) a debit to Cash and a credit to Unrealized Gain on Investments.
D) no journal entry. Only a memorandum entry is required.
Correct Answer:
Verified
Q20: Available-for-sale investments in stock are initially recorded
Q21: The journal entry to record the sale
Q22: ABC receives a stock dividend of 50
Q23: The receipt of a stock dividend:
A)has no
Q24: Abba Company purchased 1,000 shares of Dabber
Q26: The Unrealized Gain or the Unrealized Loss
Q27: 1.adjusting entry requires a:
A)debit to Allowance to
Q28: The gain or loss on the sale
Q29: Other comprehensive income:
A)appears on the income statement
Q30: The journal entry to record the receipt
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