Silva SpA owns shares of Costa S.A. classified as a trading equity investment. At December 31, 2022,
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Silva SpA owns shares of Costa S.A. classified as a trading equity investment. At December 31, 2022, the trading equity investment was carried in Silva’s accounting records at its cost of R$875,000, which equals its fair value. On September 21, 2023, when the fair value of the investment was R$1,200,000, Silva declared a property dividend whereby the Costa securities are to be distributed on October 23, 2023, to shareholders of record on October 8, 2023. Prepare all journal entries necessary on those three dates.
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The journal entries for Silva SpA to record the property dividend of its trading equity investment i...View the full answer
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Related Book For 
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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