Crane Company owned 18000 sharen of Blossom Company purchased in 2014 for s495000. On December 15,...

 

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Crane Company owned 18000 sharen of Blossom Company purchased in 2014 for s495000. On December 15, 2017, Crane declared a property dividend of alt of its Biossom Company shares on the basis of one share of Blossom for every 10 shares of Crane common stock held by its stockholders. The property dividend was distributed on January 15, 2018. On the declaration date, the aggregate market price of the Blossom shares held by Crane was s88o000. The entry to recard the declaration of the dividend would Include a debit to Retained Earnings of 10. $385000. $495000. S880000. Click if you would like to Show Work for this question Open. Show Work Crane Company owned 18000 sharen of Blossom Company purchased in 2014 for s495000. On December 15, 2017, Crane declared a property dividend of alt of its Biossom Company shares on the basis of one share of Blossom for every 10 shares of Crane common stock held by its stockholders. The property dividend was distributed on January 15, 2018. On the declaration date, the aggregate market price of the Blossom shares held by Crane was s88o000. The entry to recard the declaration of the dividend would Include a debit to Retained Earnings of 10. $385000. $495000. S880000. Click if you would like to Show Work for this question Open. Show Work

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The Retained Earnings will be debited for 495000 Total Dividen... View the full answer