Question
On January 1, Waterway Corporation had 142000 shares of $10 par value common stock outstanding. On June 17, the company declared a 12% stock
On January 1, Waterway Corporation had 142000 shares of $10 par value common stock outstanding. On June 17, the company declared a 12% stock dividend to stockholders of record on June 20. Market value of the stock was $12 on June 17. The entry to record the transaction of June 17 would include a Odebit to Stock Dividends for $204480. O credit to Common Stock Dividends Distributable for $68160. O credit to Common Stock Dividends Distributable for $204480. O credit to Cash for $204480.
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