Alpine Energy Corporation has 1,500,000 shares of $10 par common stock outstanding. On August 2, Alpine Energy

Question:

Alpine Energy Corporation has 1,500,000 shares of $10 par common stock outstanding. On August 2, Alpine Energy declared a 5% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $60 per share on August 2. Journalize the entries required on August 2, September 15, and October 8.

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...

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