Question
Dave Inc. declared 40% stock dividend on its 120,000 outstanding common shares (with a par value of $5 per share) on September 10, 2021. The
Dave Inc. declared 40% stock dividend on its 120,000 outstanding common shares (with a par value of $5 per share) on September 10, 2021. The stock was trading for $35 at the declaration date. The stock were distributed in form of dividend on October 20, 2021.
Prepare journal entries on September 10 and October 20, 2021. What is the equivalent stock split of this 40% stock dividend?
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Materiality In Financial Reporting An Integrative Perspective
Authors: Francesco Bellandi
1st Edition
178743737X, 9781787437371
