Ask Question
BusinessBusiness
5 September, 20:36

Pravis Corporation owns 30% of Kuster Corporation. Pravis Corporation received $9,000 in cash dividends from Kuster Corporation. The entry to record receipt of these dividends is

+3
Answers (1)
  1. 5 September, 23:28
    0
    C. Debit Cash, $9,000; credit Long-Term Investments, $9,000.

    Explanation:

    Since Pravis is a part owner of Kuster, Kuster paying the 9000 cash dividends to Pravis would first be recorded as a debit cash of 9000. And then it would be recorded in the credit as a long term investment of 9000.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Pravis Corporation owns 30% of Kuster Corporation. Pravis Corporation received $9,000 in cash dividends from Kuster Corporation. The entry ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Sparks Corporation has 3,000 shares of 8%, $100 par value preferred stock outstanding at December 31, 2017. At December 31, 2017, the company declared a $105,000 cash dividend ...
Answers (1)
What is most likely to happen as a result of the change in interest rates? Housing prices will go up and down due to changing fiscal policy. The market will experience more demand and the price of houses will go up.
Answers (2)
Recently, some college alumni started a moving service for students living on campus. They have three employees and are debating hiring a fourth. The hourly wage for an employee is $18 per hour. An average moving job takes three hours.
Answers (1)
Marty had a contract to paint peters house for $2,000. marty painted the house and peter did not pay marty (under the contract he was to make payment 7 days after completion of the job).
Answers (1)
The costs to be accounted for in a cost reconciliation report consist of: Multiple Choice beginning work in process inventory + costs added to production during the period.
Answers (1)
New Questions in Business
Alec has graduated from college and is moving to a large city to start a new job. once he arrives, he plans to buy his first new car.
Answers (1)
If Ben invests $3500 at 4% interest per year, how much additional money must he invest at 5 1 2 % annual interest to ensure that the interest he receives each year is 4 1 2 % of the total amount invested?
Answers (1)
Holding all other things constant, when the price level rises, interest rates:
Answers (1)
Stockbrokers often believe that their own expertise will enable them to select stocks that will outperform the market average. This belief best illustrates
Answers (1)
In the Keynesian model, it is assumed that, when demand for a firm's product changes, the firm: A. changes prices to meet the demand. B. changes production levels to meet the demand. C. changes prices and production levels to meet demand. D.
Answers (1)
Home » Business » Pravis Corporation owns 30% of Kuster Corporation. Pravis Corporation received $9,000 in cash dividends from Kuster Corporation. The entry to record receipt of these dividends is
Sign Up Forgot Password?