Core Technologies Company stockholders' equity as of June 30, 2020 included the following: Common shares, $1 par;
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Question:
Core Technologies Company stockholders' equity as of June 30, 2020 included the following:
Common shares, $1 par; authorized, 4 million shares; issued and outstanding, 1 million shares | ps | 1,000,000 | |
Paid-in capital: excess of par | 4,000,000 | ||
Retained earnings | 13,000,000 | ||
On April 1, 2021, Core Technologies' board of directors 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, 2021 and $40 on June 1, 2021.
Required:
Complete table below to calculate the stock dividend.
Prepare journal entries to record the declaration and distribution of the stock dividend.
Complete the following table to calculate the stock dividend.
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Related Book For
Financial Reporting and Analysis
ISBN: 978-1259722653
7th edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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