10. You currently own 10,000 shares of Ink Inc. stock that is worth $500,000. You originally...

 

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10. You currently own 10,000 shares of Ink Inc. stock that is worth $500,000. You originally bought the shares for $45 per share. On September 1, your company announced that it will be issuing all of your Ink Inc. shares as a property dividend payable on October 5. Record for September 1 and October 5. A The September 1 journal entry will include. a. Dr. retained eamings 500,000 b. Cr. property dividends payable 450,000 c. Cr. cash 500,000 B. The October 5 joumal entry will include... a. Cr. cash 500,000 b. Dr. property dividends payable 500,000 c. Cr. investment in Ink 450,000 10. You currently own 10,000 shares of Ink Inc. stock that is worth $500,000. You originally bought the shares for $45 per share. On September 1, your company announced that it will be issuing all of your Ink Inc. shares as a property dividend payable on October 5. Record for September 1 and October 5. A The September 1 journal entry will include. a. Dr. retained eamings 500,000 b. Cr. property dividends payable 450,000 c. Cr. cash 500,000 B. The October 5 joumal entry will include... a. Cr. cash 500,000 b. Dr. property dividends payable 500,000 c. Cr. investment in Ink 450,000

Answer rating: 100% (QA)

Solution Answer10 Property dividend A company may issue ... View the full answer