Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Entries for stock dividends Zurich Corporation has 11,000 shares of $70 par common stock outstanding. On August 2, Zurich Corporation declared a 4% stock
Entries for stock dividends Zurich Corporation has 11,000 shares of $70 par common stock outstanding. On August 2, Zurich Corporation declared a 4% stock dividend to be issued October 8 to stockholders of record on September 15. The market price of the stock was $95 per share on August 2. Journalize the entries required on August 2, September 15, and October 8. If an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Date Aug. 2 Stock Dividends Account Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock Sept. 15 Stock Dividends Distributable Common Stock Oct. 8 Stock Dividends Paid-In Capital in Excess of Par-Common Stock Debit Credit 000 00 00 00 00
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started