loader  Loading... Please wait...

Question(s) / Instruction(s):

Everrine Corporation owns 3,000 shares of JRW Corporation. JRW Corporation has 25,000 shares of stock outstanding. JRW paid $4 per share in cash dividends to its stockholders. The entry to record the receipt of these dividends is:                    

a)            Debit Cash, $12,000; credit Long-Term Investments, $12,000.

b)            Debt Long-Term Investment, $12,000; credit Cash, $12,000.

c)            Debit Unrealized Gain-Equity, $12,000; credit Cash, $12,000.

d)            Debit Cash, $12,000; credit Unrealized Gain-Equity, $12,000.

e)            Debit Cash, $12,000; credit Dividend Revenue, $12,000.

Find Similar Answers by Subject

Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)

Expert's Answer
Download Solution:

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)

You Recently Viewed...

Reach Us