WOW! Inc. declared a 5 percent stock dividend on its 500,000 shares of common stock. The $10 par value common stock was originally sold for $12 and was selling at $15 at the time the stock dividend was declared. Prepare the general journal entries to record and distribute the stock dividend.
Answer to relevant QuestionsAlexander, Inc., declared and distributed a 10 percent stock dividend on its 700,000 shares of outstanding $5 par value common stock when the stock was selling for $12 per share. The out-standing shares had originally been ...For the year ended December 31, Global Exports had net sales of $7,750,000, costs and other expenses (including income tax) of $6,200,000, and an extraordinary gain (net of income tax) of $420,000. a. Prepare a condensed ...You have now learned about the following financial statements issued by corporations: balance sheet, income statement, statement of retained earnings, statement of stockholders’ equity, and statement of cash flows. Listed ...At the beginning of the year, Albers, Inc., has total stockholders’ equity of $840,000 and 40,000 outstanding shares of a single class of capital stock. During the year, the corporation completes the following transactions ...At the beginning of the year, Jessel, Inc., has total stockholders’ equity of $600,000 and 20,000 outstanding shares of a single class of capital stock. During the year, the corporation completes the following transactions ...
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