Question
On December 31, 2018, Marigold Corporations common shares were trading for $41, and the company had the following shareholders equity accounts: Common Shares (no par
On December 31, 2018, Marigold Corporations common shares were trading for $41, and the company had the following shareholders equity accounts:
| Common Shares (no par value, unlimited authorized, 303,000 issued, and outstanding) | $5,757,000 | |
| Contributed Surplus-Common Shares | 1,290,000 | |
| Retained earnings | 20,400,000 |
Prepare the journal entries for the following independent transactions.
A stock dividend of 5% is declared on January 1, 2019 and issued on January 31 to the shareholders of record on January 15. The common shares were trading for $41 on June 1, 2019.
A stock dividend of 100% is declared on January 1, 2019 and issued on January 31 to the shareholders of record on January 15. The common shares were trading for $41 on June 1, 2019.
A 3-for-1 stock split is declared on January 1, 2019 and issued on January 31 to the shareholders of record on January 15.
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Auditing and Assurance Services Understanding the Integrated Audit
Authors: Karen L. Hooks
1st edition
471726346, 978-0471726340
