Snowist Corp. has 10,000 common shares outstanding. Snowist distributes a 20 percent stock dividend when the market

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Snowist Corp. has 10,000 common shares outstanding. Snowist distributes a 20 percent stock dividend when the market value of its shares is $18.00 per share.

1. Journalize Snowist’s declaration of the stock dividend on September 30, 2020, and the distribution of the stock dividend on October 30, 2020. Explanations are not required.

2. What is the overall effect of the stock dividend on Snowist’s total assets? On total shareholders’ equity?

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Horngrens Accounting

ISBN: 9780135359785

11th Canadian Edition Volume 2

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann Johnston, Peter R. Norwood

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Question Posted: Aug 06, 2021 12:56 AM

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Snowist Corp. has 10,000 common shares outstanding. Snowist distributes a 20 percent stock dividend when the market

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1 September 30 2020 DR Retained Earnings 20000 CR Common Stock 10000 CR Additional PaidinCapita...View the full answer

Horngrens Accounting

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