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

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

Section: Chapter Questions

Problem 1Q

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Question

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
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False
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