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Question: Farmington co. Owns 5000 shares (15%) of pandora inc. in 2016, on dec 15, pandora declares a $5 p…
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Farmington co. Owns 5000 shares (15%) of pandora inc. in 2016,
on dec 15, pandora declares a $5 per share cash dividend to be paid
at the end of December. Farmington records the dividends when jt is
declared. Make the journal entry for Farmington on dec 15.
Framington co. Owns 6500 shares (30%) of matlin company. In
2016 on dec 15, matlin declared a $2 per share cash dividend to be
paid at the end of December. Framington records the dividend when
it is paid. Make the journal entry for framington on dec 31

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