Shriver Food Systems, Inc., has issued a 40 percent stock dividend. The company has 752,000 shares authorized

Question:

Shriver Food Systems, Inc., has issued a 40 percent stock dividend. The company has 752,000 shares authorized and 200,000 shares outstanding. The par value of the stock is $10 per share, and the market value is $130 per share. Record the payment of this stock dividend.

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...