Question 25 Crane Company owned 18000 shares of Blossom Company purchased in 2014 for $495000....
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Question 25 Crane Company owned 18000 shares of Blossom Company purchased in 2014 for $495000. On December 15, 2017, Crane declared a property dividend of all of its Blossom Company shares on the basis of one share of Blossom for every 10 shares of Crane common stock held by its stockholders. The property dividend was distributed on January 15, 2018. On the declaration date, the aggregate market price of the Blossom shares held by Crane was $880000. The entry to record the declaration of the dividend would include a debit to Retained Earnings of O so. $0. $385000 495000 $880000. Click if you would like to Show Work for this question: Open Show.Work
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