Merino Corporation issued a 4 percent stock dividend on 30,000 shares of its ($ 10) par common
Question:
Merino Corporation issued a 4 percent stock dividend on 30,000 shares of its \(\$ 10\) par common stock. At the time of the dividend, the market value of the stock was \(\$ 25\) per share.
Required
a. Compute the amount of the stock dividend.
b. Show the effects of the stock dividend on the financial statements using a horizontal statements model like the following one.
c. Prepare the journal entry to record the stock dividend.
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