The shareholders equity of Core Technologies Company on June 30, 2023, included the following: On April 1,

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The shareholders’ equity of Core Technologies Company on June 30, 2023, included the following:

On April 1, 2024, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies’ common stock was $30 on April 1, 2024, and $40 on June 1, 2024.

Required:
Prepare the journal entry to record the declaration and distribution of the stock dividend.

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Intermediate Accounting

ISBN: 9781264134526

11th Edition

Authors: David Spiceland

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Question Posted: Jun 27, 2022 02:36 AM

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The shareholders equity of Core Technologies Company on June 30, 2023, included the following: On April 1,

Question:

Common stock, $1 par; authorized, 8 million shares; issued and outstanding, 3 million shares Paid-in capital-excess of par Retained earnings $ 3,000,000 12,000,000 14,000,000

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The journal entry to record the declaration and distri...View the full answer

Intermediate Accounting

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