On April 24, 201X, Firemen Corporation declared a 4 stock dividend distributable May 18 to stockholders of record on May 8 Currently Firemen has 6,800 shares of common stock issued and outstanding The stock has a par value of $10 The current fair market value of the stock is $25 Journalize (a) The ...

Apr 24 Retained Earnings 6800 Common Sto ...

On April 24, 201X, Firemen Corporation declared a 4% stock dividend distributable May 18 to stockholders of

Question:

On April 24, 201X, Firemen declared a 4% stock distributable May 18 to stockholders of record on May 8. Currently Firemen has 6,800 shares of issued and outstanding. The stock has a of $10. The current fair market value of the stock is $25. Journalize
(a) The declaration of the
(b) The issuance of the stock Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...