York Company declared a land dividend on 6-15-20. The land had a book value of $600,000 and
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Question:
York Company declared a land dividend on 6-15-20. The land had a book value of $600,000 and a fair market value of $750,000 on the declaration date. The dividend is payable to owners of record on July 15, 2020. The dividend will be distributed on 9-15-20.
Required:
1) Prepare the Required Journal entries on 6-15-20 and 8-15-20.
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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