Chung Owns 40% of Lu's Common Stock

question 47

Multiple Choice

Chung owns 40% of Lu's common stock. Lu pays $97,000 in total cash dividends to its shareholders. Chung's entry to record this transaction should include a:

• A) Debit to Dividends for $97,000.
• B) Debit to Dividends for $38,800.
• C) Debit to Long-Term investments for $97,000.
• D) Credit to Long-Term Investments for $38,800.
• E) Credit to Cash for $97,000.

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Definitions:

Oxytocin

A hormone and neurotransmitter often referred to as the "love hormone," involved in social bonding, sexual reproduction, childbirth, and the period after childbirth.

Promote Feelings

Actions or stimuli intended to evoke or enhance emotional responses.

Trust

Reliance on the integrity, strength, ability, or character of a person or thing.

Polyunsaturated Fats

Fatty acids that contain more than one unsaturated carbon bond, considered healthier fats and found in foods like fish and nuts.