Question
10. You currently own 10,000 shares of Ink Inc. stock that is worth $500,000. You originally bought the shares for $45 per share. On
10. You currently own 10,000 shares of Ink Inc. stock that is worth $500,000. You originally bought the shares for $45 per share. On September 1, your company announced that it will be issuing all of your Ink Inc. shares as a property dividend payable on October 5. Record for September 1 and October 5. A The September 1 journal entry will include. a. Dr. retained eamings 500,000 b. Cr. property dividends payable 450,000 c. Cr. cash 500,000 B. The October 5 joumal entry will include... a. Cr. cash 500,000 b. Dr. property dividends payable 500,000 c. Cr. investment in Ink 450,000
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Practical financial management
Authors: William r. Lasher
5th Edition
0324422636, 978-0324422634
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