Roe Corporation owns 2,000 shares of WRJ Corporation stock. WRJ Corporation has 25,000 shares of stock outstanding. WRJ paid $4 per share in cash dividends to its stockholders. Roe's entry to record the receipt of these dividends is:
A. Debit Unrealized Gain-Equity, $8,000; credit Cash, $8,000.
B. Debit Cash, $8,000; credit Dividend Revenue, $8,000.
C. Debit Cash, $8,000; credit Interest Revenue, $8,000.
D. Debt Long-Term Investment, $8,000; credit Cash, $8,000.
E. Debit Cash, $8,000; credit Long-Term Investments, $8,000.
Answer: B
You might also like to view...
Which of the following financial statements is concerned with the enterprise at a point in time?
a. Statement of retained earnings b. Income statement c. Statement of cash flows d. Balance sheet
Using the sustainability metric of ________, a firm would examine the pounds of physical resources wasted per unit of organizational output
A) material intensity B) energy intensity C) toxic emissions D) pollutant emissions E) water consumption
Waste created by a production process is
a. accounted for in the same manner as defective units. b. accounted for as an abnormal loss. c. material that can be sold as an irregular product. d. discarded rather than sold.
Explain how attitudes are shaped by our values and beliefs.
What will be an ideal response?