U Store Corporation has 250,000 shares of $15 par common stock outstanding On July 20, U Store Corporation declared a 3 stock dividend to be issued September 18 to stockholders of record on August 19 The market price of the stock was $54 per share on July 20 Journalize the entries required on July ...

July 20 Stock Dividends 250000 3 54 405000 Stock Divid ...

U-Store Corporation has 250,000 shares of $15 par common stock outstanding. On July 20, U-Store Corporation declared

Question:

U-Store has 250,000 shares of $15 par outstanding. On July 20, U-Store declared a 3% stock to be issued September 18 to stockholders of record on August 19. The market price of the stock was $54 per share on July 20. Journalize the entries required on July 20, August 19, and September 18.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... 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...