ABC declared a property dividend.The dividend consisted of 10,000 common shares of its investment in XYZ Company.The shares had originally been purchased at $4 per share and had a $1 par value.The value of the shares on the declaration date is $7 per share.What is the first entry that should be recorded related to this dividend?

Question

ABC declared a property dividend.The dividend consisted of 10,000 common shares of its investment in XYZ Company.The shares had originally been purchased at $4 per share and had a $1 par value.The value of the shares on the declaration date is $7 per share.What is the first entry that should be recorded related to this dividend?
ABC declared a property dividend.The dividend consisted of 10,000 common shares of its investment in XYZ Company.The shares had originally been purchased at $4 per share and had a $1 par value.The value of the shares on the declaration date is $7 per share.What is the first entry that should be recorded related to this dividend?

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The Answer of ABC declared a property dividend.The dividend consisted of 10,000 common shares of its investment in XYZ Company.The shares had originally been purchased at $4 per share and had a $1 par value.The value of the shares on the declaration date is $7 per share.What is the first entry that should be recorded related to this dividend?

ABC Declared a Property Dividend