Strawberry company purchased 70% of the outstanding voting share of Apple company at the beginning of 2019 OMR 400,000. The dividend distribution in the year of 2019 OMR 50,000. What is the entry of dividend income? Select one: a. Cash A/C Dr 35,000 Dividend Income Cr 35,000 b. Cash A/C Dr 50,000 Dividend Income Cr 50,000 c. Cash A/C Dr 280,000 Dividend Income Cr 280,000 d. Cash A/C Dr 400,000 Dividend Income Cr

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Strawberry company purchased 70% of the outstanding voting share of Apple company at the beginning of 2019 OMR 400,000. The dividend distribution in the year of 2019 OMR 50,000. What is the entry of dividend income?
Select one:
a.
Cash A/C Dr
35,000

Dividend Income Cr

35,000
b.
Cash A/C Dr
50,000

Dividend Income Cr

50,000
c.
Cash A/C Dr
280,000

Dividend Income Cr

280,000
d.
Cash A/C Dr
400,000

Dividend Income Cr

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