Question: Friday Night, Inc. has 1 7 , 0 0 0 shares of $ 1 par value common stock outstanding. Friday Night, Inc. distributes a 1

Friday Night, Inc. has 17,000 shares of $1 par value common stock outstanding. Friday Night, Inc. distributes a 10% stock dividend when the market value of its stock is $17 per share.
Read the requirements.
Start by journalizing the declaration of the stock dividend on August 15.
Now journalize the distribution of the stock dividend on August 31.
Requirement 2. What is the overall effect of the stock dividend on Friday Night, Inc.'s total assets?
The stock dividends have no effect on total assets.
Requirement 3. What is the overall effect on total stockholders' equity?
The stock dividends have
on total stockholders' equity.
Friday Night, Inc. has 17,000 shares of $1 par value common

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