Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on december 1, year 4, pott co. declared and distr

On December 1, Year 4, Pott Co. declared and distributed a property dividend when the...

80.2K

Verified Solution

Question

Accounting

On December 1, Year 4, Pott Co. declared and distributed a property dividend when the fair value exceeded the carrying amount. As a consequence of the dividend declaration and distribution, what are the accounting effects?

Property Dividends

Recorded at

Retained Earnings
A.

Cost

Decreased
B.

Fair value

Decreased
C.

Cost

Increased
D.

Fair value

Increased

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Advance Math
1.2K views

Want a project proposal for a MSc student in Applied Mathematical Modelling under Mathematical Epidemiology

General Management
1.2K views

Service quality differs from product in that the consumer is actively involved in the service creation...

Biology
1.2K views

C Lysogeny D Microbial antagonism E Parasitism Page 8 of 11 41 Which step of...

Geometry
1.2K views

6 Graphing a cosecant function using transformations 21 points csc 3x y 1 State the...

Calculus
1.2K views

Given that a b Rx dx f x dx 3 and 1 f x 1...

Algebra
1.2K views

For the following geometric sequence find the common ratio r and then write an expression...

Accounting
1.2K views

PLACE YOUR ANSWERS TO THE FOLLOWING QUESTIONS INS EXAMINATION BOOKLETS PROVIDED, DO NOT PROVIDE ANY...

Accounting
1.2K views

Problem 2: A 60'x 30' mat foundation is shown in the following diagram. 35] a....

Accounting
1.2K views

Sweeten Company had no jobs in progress at the beginning of the year and no...

Accounting
1.2K views

The following condensed balance sheet is for the partnership of Gulian, Singh, and Zahiri, who...

Finance
1.2K views

Suppose you have accumulated $22,000 in credit card debt. If the interest rate on the...

Accounting
1.2K views

Larren Buffett is concerned after receiving her weekly paycheck. She believes that her deductions for...