Using the same facts as in RE17-9, assume instead that Ruby declares and issues a 50% stock

Question:

Using the same facts as in RE17-9, assume instead that Ruby declares and issues a 50% stock when the stock is selling for $30 per share. Prepare the journal entry on the date of declaration to record Ruby Corporation’s stock RE17-9, Ruby declares and issues a 15% stock On the date of declaration, the stock is selling for $30 per share. Assuming that there were 50,000 shares previously outstanding, with a $10 par value, prepare the journal entry on the date of declaration to record Ruby Corporation’s stock Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... 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...