Question
Epic Inc. has 11,300 shares of $2 par value common stock outstanding. Epic declares a 18% stock dividend on July 1 when the stocks market
Epic Inc. has 11,300 shares of $2 par value common stock outstanding. Epic declares a 18% stock dividend on July 1 when the stocks market value is $21 per share. The stock dividend is distributed on July 20. Prepare journal entries for
(a) declaration and (b) distribution of the stock dividend.
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Advances In Accounting Volume 23
Authors: Philip M J Reckers
1st Edition
0762314257, 9780762314256
