Question: Tucson Bancshares has 34 000 shares of 3 par common stock

Tucson Bancshares has 34,000 shares of $3 par common stock outstanding. Suppose Tucson declares and distributes an 8% stock dividend when the market value of its stock is $20 per share.
1. Journalize Tucson’s declaration and distribution of the stock dividend on May 11. An explanation is not required.
2. What was the overall effect of the stock dividend on Tucson’s total assets? On total liabilities? On total stockholders’ equity?

View Solution:

Sale on SolutionInn
  • CreatedJuly 25, 2014
  • Files Included
Post your question