Strawberry company purchased 70% of the outstanding voting share of Apple company at the beginning of 2019 OMR 400,000. The dividend distribution in the year of 2019 OMR 50,000. What is the entry of dividend income? Select one: a. Cash A/C Dr 35,000 Dividend Income Cr 35,000 b. Cash A/C Dr 50,000 Dividend Income Cr 50,000 c. Cash A/C Dr 280,000 Dividend Income Cr 280,000 d. Cash A/C Dr 400,000 Dividend Income Cr
Strawberry company purchased 70% of the outstanding voting share of Apple company at the beginning of 2019 OMR 400,000. The dividend distribution in the year of 2019 OMR 50,000. What is the entry of dividend income? Select one: a. Cash A/C Dr 35,000 Dividend Income Cr 35,000 b. Cash A/C Dr 50,000 Dividend Income Cr 50,000 c. Cash A/C Dr 280,000 Dividend Income Cr 280,000 d. Cash A/C Dr 400,000 Dividend Income Cr
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Strawberry company purchased 70% of the outstanding voting share of Apple company at the beginning of 2019 OMR 400,000. The dividend distribution in the year of 2019 OMR 50,000. What is the entry of dividend income?
Select one:
a.
Cash A/C Dr
35,000
Dividend Income Cr
35,000
b.
Cash A/C Dr
50,000
Dividend Income Cr
50,000
c.
Cash A/C Dr
280,000
Dividend Income Cr
280,000
d.
Cash A/C Dr
400,000
Dividend Income Cr
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