Micron owns 3000 shares of jvt. jvt has 25000 total shares, Ask an Expert

Accounting

Micron owns 3,000 shares of JVT. JVT has 25,000 total shares of stock outstanding. JVT paid $3 per share in cash dividends to its stockholders. Micron should record a:

A) Debit to Dividends for $75,000.

B) Debit to Dividends for $9,000.

C) Debit to Cash for $9,000.

D) Debit to Long-Term Investments for $9,000.

E) Credit to Long-Term Investments for $9,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9450135

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