Question
On Nov. 1, 2020, AAA declared and issued a 10% common stock dividend. Prior to this dividend, AAA had 200,000 shares of $1 par value
On Nov. 1, 2020, AAA declared and issued a 10% common stock dividend. Prior to this dividend,
AAA had 200,000 shares of $1 par value common stock issued and outstanding. The fair value of
AAA 's common stock was $25 per share on Nov. 1, 2020. Prepare the journal entries AAA needs
to make to record this transaction.
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Managerial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
4th Canadian edition
978-1118856994
