Question
Madison Company has 350,000 shares of $3 par value common stock outstanding. It declared a 40% stock dividend on June 1 when the market price
Madison Company has 350,000 shares of $3 par value common stock outstanding. It declared a 40% stock dividend on June 1 when the market price per share was $25. The shares were issued on June 30.
A. do the entryIN GOOD FORMfor the declaration of the stock dividend on June 1.
B. do the entryIN GOOD FORMfor the distribution of the dividend on June 30.
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
8th edition
978-1-119-3904, 1119392422, 111939242X, 1119390451, 978-1119392422
