Answered step by step
Verified Expert Solution
Question
1 Approved Answer
On October 1, 2024, the board of directors of Ivanhoe Corporation declared a 40% stock dividend. On the declaration date, there were 46,600 common shares
On October 1, 2024, the board of directors of Ivanhoe Corporation declared a 40% stock dividend. On the declaration date, there were 46,600 common shares issued and outstanding. The fair market value of the shares on October 1,2024 , was $126 per share. The stock dividend was distributed on October 31, 2024, to shareholders of record on October 15, 2024. (a) Your answer is correct. Prepare the journal entries required to record the stock dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Your answer is incorrect. What is the market price of the shares after the stock dividend if the market reacts as expected? (Round answer to 2 decimal places, e.g. 15.25.) Market value per share after stock dividend $ eTextbook and Media
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started