Question
Epic Incorporated has 10,700 shares of $2 par value common stock outstanding. Epic declares a 12% stock dividend on July 1 when the stocks market
Epic Incorporated has 10,700 shares of $2 par value common stock outstanding. Epic declares a 12% stock dividend on July 1 when the stocks market value is $15 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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Auditing And Assurance Services
Authors: Alvin Arens, Randal Elder, Mark Beasley
14th Edition
1256560812, 9781256560814
