Question
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 10,000, $1 par, common shares. The market price
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 10,000, $1 par, common shares. The market price of the common stock is $30 on this date. Required: 1. Record the stock dividend assuming a small (10%) stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Record the stock dividend assuming a large (100%) stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 3. Record the stock dividend assuming a 2-for-1 stock split. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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