Question
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $1 par, common shares, to be
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $19 on June 13. Complete the below table to calculate the stock dividend.
| tock Dividend | ||
| Number of outstanding shares | ||
| Stock dividend percentage (%) | % | |
| Number of shares to be issued | ||
| x Market Value per shareselected answer correct | ||
| Value of stock dividend |
Prepare a journal entry that summarizes the declaration and distribution of the stock dividend.
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The Internal Auditors Guide To Risk Assessment
Authors: Rick A. Wright Jr.
2nd Edition
1634540158, 9781634540155
