Sun Life Financial Inc. issued 300,000 new common shares as a result of a stock dividend when
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Question:
Sun Life Financial Inc. issued 300,000 new common shares as a result of a stock dividend when the market value was $40 per share. The average issuance price is $20 per share.
• Record the share transaction on the payment date assuming that it was a small stock dividend.
Dr.
Cr.
• Record the share transaction on the payment date assuming that it was a large stock dividend.
Dr.
Cr.
• What is the journal entry required if it was a stock split? Give the entries alone, the amount is not needed.
Dr.
Cr.
Expert Answer:
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