ABC Corp owns several shares of XYZ Inc stock (less than 20% of the voting shares. ABC

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ABC Corp owns several shares of XYZ Inc stock (less than 20% of the voting shares. ABC Corp received a check for $5,000 for stock dividends from XYZ Inc. What is the journal entry that ABC Corp would write the this transaction?

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Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

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Posted Date: Apr 01, 2024 01:49 AM

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ABC Corp owns several shares of XYZ Inc stock (less than 20% of the voting shares. ABC

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Since ABC Corp received a stock dividend this doesnt impact their cash account Stock dividends are ... View the full answer

Intermediate Accounting

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