Question: PLEASE SHOW ALL WORK. THANK YOU! CALCULATOR PRINTER Brief Exercise 15-14 Your answer is partially correct. Try again. Pharoah Corporation has outstanding 400,000 shares of
PLEASE SHOW ALL WORK. THANK YOU!
CALCULATOR PRINTER Brief Exercise 15-14 Your answer is partially correct. Try again. Pharoah Corporation has outstanding 400,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $63 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Account Titles and Explanation Declaration Date Retained Earnings T Common Stock Dividend D Distribution Date Common Stock Dividend D Common Stock Click if you would like to Show Work for this question: Open Show Work
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