Answer:
the journal entry should be:
Dr Cash X
Cr Dividend revenue X
When a company holds securities as an investment and classifies them as available for sale (AFS), any dividends received will be recorded as revenue.
Dividend revenue is reported in the income statement.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Doug and Vanessa- partnership
Esperanza- sole partnership
Robyn- c corporation
Cuba- s corporation or LLC
Ming- nonprofit corporation
I hope this helps someone!!