Declaration of the property dividend, Accounting Basics

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Declaration of the property dividend

On September 20, 2002, Nozzle Corporation declared the distribution of the following dividend to its stockholders of record as of September 30, 2011:

• Investment in 100,000 shares of Astro Corporation stock, carrying value $600,000; fair market value on September 20, $1,450,000; fair market value on September 30, $1,575,000.

The entry to record the declaration of the property dividend would include a debit to Retained Earnings of

a. $1,575,000.

b. $1,450,000.

c. $850,000.

d. $600,000.

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Accounting Basics: Declaration of the property dividend

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Accounting Basics: Declaration of the property dividend

Reference No:- TGS066753

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Q : What is the efficient quantity and efficient price

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Declaration of the property dividend

Reference No:- TGS066753

Recent Questions Asked Accounting Basics

Q : Output of private goods and services

Q : Making adjustments on the consolidated worksheet

Q : Main characteristics of perfectly competitive market

Q : What is the efficient quantity and efficient price

Q : Declaration of the property dividend

Q : Supply function for perfectly competitive industry

Q : Find travel cost method of estimating environmental benefits

Q : Dvidends payable on both the common and preferred stock

Q : How does substitution effects affect labor market

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