A company has 250,000 $2 par shares outstanding on 12/31/15. On 1/1/16 the company declares a 40%

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A company has 250,000 $2 par shares outstanding on 12/31/15.

On 1/1/16 the company declares a 40% stock dividend when the stock price is $40.

The distribution date is 3/1/16.

Prepare the journal entry to be recorded on 1/1/16 for the dividend declaration.

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 23, 2023 08:22 AM

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A company has 250,000 $2 par shares outstanding on 12/31/15. On 1/1/16 the company declares a 40%

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The journal entry to be recorded on 1116 for the dividend declaration is as f... View the full answer

Income Tax Fundamentals 2013

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