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On December 1, 2013 Nilo Corp declared a property dividend to be distributed on December 31, 2013. On December 1, 2013, the property to be transferred had a carrying amout of $60,000 and a fair value of $78,000. What is the effect of this property dividend on Nilo’s retained earnings after all nominal accounts are closed?
A. $0
B. $18,000 increase
C. $60,000 decrease
D. $78,000 decrease
Delmar Corporation is considering the use of residual income as a measure of the performance of its divisions. What major disadvantage of this method should the company consider before deciding to institute it?
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Dement Publishing Division and Revenue to be recognized
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