When a property dividend is declared and the market value of the property exceeds its book value,the excess is credited to
A) Gain on Distribution of Property Dividends.
B) Retained Earnings.
C) Additional Paid-In Capital.
D) the related asset account.

Question

Quizplus · Accepted Answer

The excess of the market value over the book value of the property is recognized as a gain, so it is credited to "Gain on Distribution of Property Dividends."

When a Property Dividend Is Declared and the Market Value