Answered step by step
Verified Expert Solution
Question
1 Approved Answer
solve it all please Maity, lic, had 280,000 shares of $4 par value common itock issued and outstanding as of August 15, 2024. The company
solve it all please
Maity, lic, had 280,000 shares of \$4 par value common itock issued and outstanding as of August 15, 2024. The company s authotirod to issue 1,200,000 cormmon shares. On August 15. 2024. Maty declared a 50% s slock dividend when the market value for Math's common slock was $6 per share. The stock was issend on Aug 30 Road theirguiements. Requirement 1. Joumalze the declaraion and distribution of the slock dwidend (Record sebits first then eroats. Seloct the weplanation on the hast ine of the joumal anty tacin. ). Starl by journal teing the dectaration of the shock dividend Now purnalice the dstribution of the stack dridend. Recuirement 2. How many shates of comnion siock an culstanding afor tho diviobnd? The number of tharos of conmon wock custanding iear the dinsond = Requirements 1. Journalize the declaration and distribution of the stock dividend. 2. How many shares of common stock are outstanding after the dividend 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