Question
Green Day Corporation has outstanding 411,800 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of
Green Day Corporation has outstanding 411,800 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the stock is $74 per share.
Prepare the journal entries for Green Day Corporation for both the date of declaration and the date of distribution.
| Acct Title | Debit | Credit |
|---|---|---|
| Declaration Date: | ||
| Retained Earnings | ? | |
| ? | ? | |
| ? | ? | |
| Distribution Date: | ||
| ? | ? | |
| ? | ? |
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Auditing Cases An Interactive Learning Approach
Authors: Mark S. Beasley, Frank A. Buckless, Steven M. Glover, Douglas F. Prawitt
5th International Edition
0132815591, 9780132815598
