Rich man co has 160000 shares of 1$ par value common stock outstanding. it declared a 10%
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Question:
Rich man co has 160000 shares of 1$ par value common stock outstanding. it declared a 10% stock dividend on february 1 when the market price per share was 18$. the record date was February 8 and the shares were issued on February 15
- Required
- Prepare the entries for the stock dividend
- Prepare the closing entry on 12/31 assuming no other dividends were issued and rich man only closes on 12/31
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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