Return to the Yummy, Inc., data in Short Exercise 13-3. Assume instead that the December 15, 2012

Question:

Return to the Yummy, Inc., data in Short Exercise 13-3. Assume instead that the December 15, 2012 stock dividend was 45%.

Requirements

1. Journalize the stock dividend.

2. How many shares of common stock are outstanding after the dividend?

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... 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...