Question
Company Z has 2.75 million shares of common stock authorized with a par value of $1 and a market price of $65. There are 1.375
Company Z has 2.75 million shares of common stock authorized with a par value of $1 and a market price of $65. There are 1.375 million outstanding shares and 0.34375 million shares held in treasury stock. |
a. | Prepare the journal entry if the company declares and distributes a 10% stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars and not in millions.) |
Record the declaration and distribution of the 10% stock dividend.
b. | Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. (Enter all amounts as positive values. Enter your answers in dollars and not in millions.)
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c. | Prepare the journal entry if the company declares and distributes a 100% stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars and not in millions.) |
Record the declaration and distribution of the 100% stock dividend. |
d. | Show the effect of the 100% stock dividend on assets, liabilities, and stockholders' equity. (Enter all amounts as positive values. Enter your answers in dollars and not in millions.) |
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