Montero Co. holds 100,000 common shares (40%) of ORD Corp. as a long-term investment. ORD Corp. paid
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(a) The receipt of the dividend
(b) The December 31, 2015, year-end adjustment required for the investment account.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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a Nov 1 Cash 40000 LongTerm InvestmentORD ...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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