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Yankton Company began the year without an investment portfolio. During the year, it purchased investments classified as available-for-sale securities at a cost of $13,000. At
Yankton Company began the year without an investment portfolio. During the year, it purchased investments classified as available-for-sale securities at a cost of $13,000. At the end of the year, the market value of the securities was $11,000. Yankton Company's financial statements for the current year should show Os to how on the income statement available-to sale investments terting w of $11,000 und an arried out of 52,000 suckholders equity adjustment on the balance sheet Ob slow of 52,000 on the income statement and mailable for sale investment of 13.000 on the balance sheet Oc. molons on the income alement and valable for sale investments of $13,000 the balance sheet Odlom of 52,000 co the income teme und tempor investment of $11/60s the balance that Blanton Corporation purchased 35% of the outstanding shares of common stock of Worton Corporation as a long-term investment. Subsequently, Worton Corporation reported net income and declared and paid cash dividends. What journal entry would Blanton Corporation use to record the dividends it receives from Worton Corporation? debit Investment in Worton Corporation Stock crodit Income of Winton Corporation debit Cash credit Dividend Revue debit Investment in Wonton Corporation Stock Credit Cash dehit why credit Investment in Werton Corporation Stock
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