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Make all journal entries necessary on those three dates

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Question - Stellar Inc. owns shares of Pearl Corporation stock. At December 31, 2017, the securities were carried in Stellar's accounting records at their cost of $779,000, which equals their fair value. On September 21, 2018, when the fair value of the securities was $1,193,000, Stellar declared a property dividend whereby the Pearl securities are to be distributed on October 23, 2018, to stockholders of record on October 8, 2018. Make all journal entries necessary on those three dates.

Reference no: EM132485177

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