On January 1, the company purchased 10,000 shares of Wilsonville Company stock for $20 per share as

Question:

On January 1, the company purchased 10,000 shares of Wilsonville Company stock for $20 per share as an available-for-sale investment. In March, the company decided to distribute the Wilsonville shares as a property dividend to its stockholders. The Wilsonville shares had a market price of $27 per share on the date the property dividend was declared on March 23. The Wilsonville property dividend was distributed on April 15. Make the journal entries necessary to record the declaration and distribution of this property dividend.

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... 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...