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PLEASE GIVE ME EXECT ANSWER AND DO IT ON WORD NOT ON PAPER OR ANY... BECAUSE I HAVE TO COPY FROM HERE. THANKS The shareholders
PLEASE GIVE ME EXECT ANSWER AND DO IT ON WORD NOT ON PAPER OR ANY... BECAUSE I HAVE TO COPY FROM HERE.
THANKS
The shareholders equity for Best in Show Cinemas Ltd. (BSC) (adapted) at December 31, 2019, appears as follows:
On April 15, 2020, the market price of BSC common shares was $17 per share. Assume BSC declared a 10% stock dividend on this date and distributed the stock dividend on April 30.
Required:
- Journalize the declaration and distribution of the stock dividend.
- Prepare the shareholders equity section of the balance sheet after the stock dividend.
- Why is total shareholders equity unchanged by the stock dividend?
- Suppose BSC had a cash balance of $540,000 on April 16, 2020. What is the maximum amount of cash dividends BSC can declare?
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