A company received dividends of $0.35 per share on 300 shares of stock it holds as a stock investment with insignificant influence. The journal entry to record this transaction would be to debit Cash for $105 and credit Dividend Revenue for $105. True or False True False

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A company received dividends of $0.35 per share on 300 shares of stock it
holds as a stock investment with insignificant influence. The journal entry to
record this transaction would be to debit Cash for $105 and credit Dividend
Revenue for $105.
True or False
True
< Prev
False
26 of 26
#
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Transcribed Image Text:A company received dividends of $0.35 per share on 300 shares of stock it holds as a stock investment with insignificant influence. The journal entry to record this transaction would be to debit Cash for $105 and credit Dividend Revenue for $105. True or False True < Prev False 26 of 26 # Next
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