[TBone]

NINJA Question –

Bort Co. purchased 2,000 shares of Crel Co. common stock on March 5, Year 1, for $72,000. Bort received a $1,000 cash dividend on the Crel stock on July 15, Year 1. Crel declared a 10% stock dividend on December 15, Year 1, to stockholders of record as of December 31, Year 1. The dividend was distributed on January 15, Year 2. The market price of the stock was $38 on December 15, Year 1, $40 on Decem­ber 31, Year 1, and $42 on January 15, Year 2. What amount should Bort record as dividend revenue for the year ended December 31, Year 1?

I like to assume the author of this question was a classic Simpsons fan.

That is all.

FAR: 66, 75
AUD: 67, 69, 70, 74, 74
REG: 71, 79
BEC: 73