Question: York Corporation declares a property dividend payable in bonds of

York Corporation declares a property dividend, payable in bonds of Laurens Company, which are classified as “available for sale.” The bonds are recorded at a fair value of $58,000 (there is a $0 balance in Allowance for change in the Value of Investment in Available-for-Sale Securities), but at the time of the property dividend have a current value of $67,000. Prepare the journal entries to record the declaration of this property dividend.

View Solution:


Sale on SolutionInn
Sales1
Views75
Comments
  • CreatedOctober 05, 2015
  • Files Included
Post your question
5000