Question
A company reported the following amounts on its balance sheet at January 1, 2009. Common Stock, $10 par $25,500 APIC Common stock 75,200 Retained Earnings
A company reported the following amounts on its balance sheet at January 1, 2009.
Common Stock, $10 par $25,500
APIC Common stock 75,200
Retained Earnings 93,000
On November 5, 2009, the company declared and distributed a 6% stock dividend on common stock when the stock was selling at $23 per share. The journal entry to record the declaration and immediate distribution of stock:
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Fundamental Accounting Principles Volume II
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
16th Canadian edition
978-1260305838
