Use the information from BE13 13, but assume Mike Holmgren Football Corporation declared a 100 stock dividend rather than a 5 stock dividend Prepare the journal entries for both the date of declaration and the date of distribution ...

Declaration Date Retained Earnings 20 ...

Use the information from BE13-13, but assume Mike Holmgren Football Corporation declared a 100% stock dividend rather

Question:

Use the information from BE13-13, but assume Mike Holmgren Football declared a 100% stock rather than a 5% stock Prepare the journal entries for both the date of declaration and the date of distribution.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A 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...