Question
Jennings Corp. has 1,000,000 shares of $1 par value stock authorized, 200,000 shares issued, and 150,000 shares outstanding. On June 1, 2014, Jennings Board of
Jennings Corp. has 1,000,000 shares of $1 par value stock authorized, 200,000 shares issued, and 150,000 shares outstanding. On June 1, 2014, Jennings Board of Directors declared a 10% stock dividend. At that time, the stock had market value of $30. How would the company record this transaction?
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Quality Auditing A Tool For Excellence
Authors: David Mills, J. Mills
1st Edition
041245890X, 978-0412458903
