Question

Record the entry for cash dividend received of $200,000 from the Ferry Intercommunications common shares.

Answer 1

Answer:

Dr Cash Account and Cr Income statement (i.e investment income)

Explanation:

This represents returns received on  shareholding with  Ferry Intercommunications.

This will credited  as other income in the income statement and it will also increase the company's cash balance since it is a cash inflow.