Question
On May 31, 2022, Blue Landscapings common shares were trading for $15, and the company had the following shareholders equity accounts: Common Shares (no par
On May 31, 2022, Blue Landscapings common shares were trading for $15, and the company had the following shareholders equity accounts:
Common Shares (no par value, unlimited authorized, 970,000 issued, and outstanding) $4,850,000
Contributed Surplus-Common Shares 1,120,000
Retained earnings 18,130,000
Prepare the journal entries for the following independent transactions.
| (a) | A stock dividend of 20% is declared on June 1, 2022 at their fair value and issued on June 30 to the shareholders of record on June 15. The common shares were trading for $15 on June 1, 2022. (Use Dividends.) | |
| (b) | A stock dividend of 100% is declared on June 1, 2022 at their fair value and issued on June 30 to the shareholders of record on June 15. The common shares were trading for $15 on June 1, 2022. (Use Dividends.) | |
| (c) | A 2-for-1 stock split is declared on June 1, 2022 at their fair value and issued on June 30 to the shareholders of record on June 15. |
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
6th Edition
0273638335, 978-0273638339
