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Make all journal entries necessary on dates

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Question - Indigo Inc. owns shares of Sweet Corporation stock. At December 31, 2020, the securities were carried in Indigo's accounting records at their cost of $997,000, which equals their fair value. On September 21, 2021, when the fair value of the securities was $1,401,000, Indigo declared a property dividend whereby the Sweet securities are to be distributed on October 23, 2021, to stockholders of record on October 8, 2021.

Required - Make all journal entries necessary on those three dates.

Reference no: EM132653908

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