Gaines Corporation invested $126,000 to acquire 26 comma 000 shares of Owens Technologies, Inc. on March 1, 2018. On July 2, 2019, Owens pays a cash dividend of $ 3.25 per share. The investment is classified as equity securities with no significant influence. Which of the following is the correct journal entry to record the transaction on July 2, 2019? a. Cash 78,000
Equity Investments 78,000

b. Cash 78,000
Retained Equipment 78,000

c. Equity Investments 78,000
Cash 78,000

d. Cash 78,000
Dividend Revune 78,000

Cash Dr, $84,500

Dividend revenue $84,500

Explanation:

The Journal entry is shown below:-

Cash Dr, $84,500 (26,000 × $3.25)

              To Dividend revenue $84,500

(Being dividend is recorded)

To record the dividend, we debited the cash as it increased the assets  and we credited the dividend revenue as  it also increased the revenue

Therefore the above entry is the right and the same is not given in the option.

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.