Business, 31.12.2019 01:31 hhomeschool24

Micron owns 35% of martok. martok pays a total of $47,000 in cash dividends for the period. micron's entry to record the dividend transaction would include a:
credit to long–term investments for $16,450.
debit to long–term investments for $16,450.
debit to cash for $47,000.
credit to cash for $16,450.
credit to investment revenue for $47,000.

everrine corporation owns 3,000 shares of jrw corporation. jrw corporation has 25,000 shares of stock outstanding. jrw paid $4 per share in cash dividends to its stockholders. the entry to record the receipt of these dividends is:

debit cash, $12,000; credit long-term investments, $12,000.

debt long-term investment, $12,000; credit cash, $12,000.

debit cash, $12,000; credit dividend revenue, $12,000. debit unrealized gain-equity, $12,000; credit cash, $12,000.

debit cash, $12,000; credit unrealized gain-equity, $12,000.

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Micron owns 35% of martok. martok pays a total of $47,000 in cash dividends for the period. micron's...

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