Question
The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: Common stock: Issued and outstanding100,000 shares Par value per share
The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: Common stock: Issued and outstanding100,000 shares
Par value per share $10
APIC - Common $1,000,000
Retained earnings $3,000,000
On December 31, 2020 when the market price was $23.00 per share, XYZ declared 10,000 shares in stock dividends
Prepare the journal entry on the date of declaration.
Step by Step Solution
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Step: 1
Number of share given in stock dividend 10000 Market price per share 23 Common stock divid...
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Introduction to Corporate Finance
Authors: Scott B. Smart, William L Megginson
2nd edition
9780324658958, 0324658958, 978-0324657937
