The capital accounts for Alston Market on June 30, 2015, are as follows: Common stock, $6 par,
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The capital accounts for Alston Market on June 30, 2015, are as follows:
Common stock, $6 par, 50,000 shares issued and outstanding . . . . . ... $ 300,000
Paid-in capital in excess of par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 600,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........... 1,840,000
Shares of the company's stock are selling at this time at $44. What entries would you make in each of the following cases?
(a) A 10% stock dividend is declared and issued.
(b) A 50% stock dividend is declared and issued.
(c) A 2-for-1 stock split is declared and issued.
DividendA dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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