Bulldog, Incorporated, purchased 3,000 shares of Gamecock Company for $99,000 on March 31, Year 1 On June 30 Gamecock Company issued a 50 stock dividend and Bulldog, Incorporated, received another 1,500 shares Record the receipt of the stock dividend by Bulldog ...

No journal entry required only a memorandum entry made for a stock dividend A memorandum entry is ...

Bulldog, Incorporated, purchased 3,000 shares of Gamecock Company for $99,000 on March 31, Year 1. On June

Question:

Bulldog, Incorporated, purchased 3,000 shares of Gamecock Company for $99,000 on March 31, Year 1. On June 30 Gamecock Company issued a 50% stock and Bulldog, Incorporated, received another 1,500 shares. Record the receipt of the stock by Bulldog.

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...