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A company received dividends of $0.50 per share on 1,000 shares of common stock it holds. It is presumed that this equity investment has insignificant influence. The journal entry to record this dividend receipt would consist of a debit to Cash for $500 and credit to Dividend Revenue for $500. True or False True False

A company received dividends of $0.50 per share on 1,000 shares of common stock it holds. It is presumed that this equity investment has insignificant influence. The journal entry to record this dividend receipt would consist of a debit to Cash for $500 and credit to Dividend Revenue for $500. True or False True False

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 55E: Rebert Inc. showed the following balances for last year: Reberts net income for last year was...
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A company received dividends of $0.50 per share on 1,000 shares of common stock it holds. It is presumed that this equity investment has insignificant influence. The journal entry to record this dividend receipt would consist of a debit to Cash for $500 and credit to Dividend Revenue for $500. True or False True False
Transcribed Image Text:A company received dividends of $0.50 per share on 1,000 shares of common stock it holds. It is presumed that this equity investment has insignificant influence. The journal entry to record this dividend receipt would consist of a debit to Cash for $500 and credit to Dividend Revenue for $500. True or False True False
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