vanhoe Corp. owned 21200 shares of Oriole Corp., which had been purchased in 2019 for $296800. On December 15, 2023, Ivanhoe declared a property dividend of all of its Oriole Corp. shares. The property dividend was distributed on January 15, 2024. On the declaration date, the fair value of Ivanhoe's investment in Oriole was $400600. The entry to record the declaration of the dividend would include a debit to Retained Earnings of Select answer from the options below a. $296800. b. $400600. c. $0. d. $103800.

vanhoe Corp. owned 21200 shares of Oriole Corp., which had been purchased in 2019 for $296800. On December 15, 2023, Ivanhoe declared a property dividend of all of its Oriole Corp. shares. The property dividend was distributed on January 15, 2024. On the declaration date, the fair value of Ivanhoe's investment in Oriole was $400600. The entry to record the declaration of the dividend would include a debit to Retained Earnings of Select answer from the options below a. $296800. b. $400600. c. $0. d. $103800.

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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