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On January 1, Marigold Corporation had 192000 shares of $10 par value common stock outstanding. On June 17, the company declared a 14% stock
On January 1, Marigold Corporation had 192000 shares of $10 par value common stock outstanding. On June 17, the company declared a 14% stock dividend to stockholders of record on June 20. Market value of the stock was $14 on June 17. The entry to record the transaction of June 17 would include a O credit to Cash for $376320. O credit to Common Stock Dividends Distributable for $376320. O debit to Stock Dividends for $376320, O credit to Common Stock Dividends Distributable for $125440,
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