Question
On January 1, Benson Corporation had 800,000 shares of $10 par value common stock outstanding. On March 31 the company declared a 10% stock dividend.
On January 1, Benson Corporation had 800,000 shares of $10 par value common stock outstanding. On March 31 the company declared a 10% stock dividend. Market value of the stock was $15 per share. Prepare the journal entry: a)For the declaration of the dividend. b)For the issuance of the dividend.
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Financial Accounting
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
6th Edition
1618533118, 978-1618533111
