Question
The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: Common stock: Issued and outstanding 100,000 shares Par value per
| The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: |
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| Common stock: |
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| Issued and outstanding | 100,000 shares | ||||
| Par value per share | $10 |
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| APIC - Common | $1,000,000 |
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| Retained earnings | $3,000,000 |
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| On December 31, 2020 when the market price was $23.00 per share, |
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| XYZ declared 10,000 shares in stock dividends |
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| Prepare the journal entry on the date of declaration. |
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Managerial Accounting
Authors: Karen Braun, Wendy Tietz, Louis Beaubien
4th Canadian Edition
013544344X, 9780135443446
