Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Tasty, Inc. had 200.000 shares of $4 par value common stock issued and outstanding as of August 15, 2016. The company is authorized to issue
Tasty, Inc. had 200.000 shares of $4 par value common stock issued and outstanding as of August 15, 2016. The company is authorized to issue 1,300,000 common shares. On August 15, 2016, Tasly declared a 50% stock divided when the market value for Tasly's common stock was 56 per share. The stock was issued on Aug 30 Requirements 1. Joumalize the declaration and distribution of the stock dividend. 2. How many shares of common stock are outstanding after the dividend? Start by oumalizing the declaration of the stock dividend. Date Accounts and Explanation Deb Credit Aug. 15 Now journaize the distribution of the stock dividend. Date Accounts and Explanation Aug 30 Debit Crede Requirement 2. How many shares of common stock are outstanding after the dividend? There are shares of common stock outstanding her the dividend. Choose from any list or enter any number in the input fields and when continue to the next
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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