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Can someone please explain 3-for-1 stock split in the form of 200% stock dividend. I really just don't get this part at all. Miles Corp.
Can someone please explain 3-for-1 stock split in the form of 200% stock dividend. I really just don't get this part at all.
Miles Corp. declares and distributes a 3-for-1 stock split effected in the form of a 200% stock dividend. Miles had 10,000 shares of $1 par value common stock valued at $8 per share before the stock split. If Miles does not capitalize retained earnings, the journal entry required to record the split would include a debit to Feedback retained earnings $30,000. O stock investment $30,000. O O common stock $20,000. O paid-in capital in excess of par $20,000Step by Step Solution
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