A company has 250,000 $2 par shares outstanding on 12/31/15. On 1/1/16 the company declares a 40%
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Question:
A company has 250,000 $2 par shares outstanding on 12/31/15.
On 1/1/16 the company declares a 40% stock dividend when the stock price is $40.
The distribution date is 3/1/16.
Prepare the journal entry to be recorded on 1/1/16 for the dividend declaration.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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