On December 31, the Stockholders Equity section of Collins Auto Body Repair, Inc.s balance sheet is as

Question:

On December 31, the Stockholders€™ Equity section of Collins Auto Body Repair, Inc.€™s is as follows:

On March 6 of the following year, when the stock was selling at $ 38 per share, the board of directors declared a 20 percent stock dividend, distributable on March 28 to stockholders of record on March 22. Give the entries to record the declaration and distribution of the stock dividend assuming that it is a small stockdividend.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... 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...