Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Yum Corp has 215,000 shares of common stock outstanding. The par value is $.001, and the market value is $73.15 per share. On 24 January

image text in transcribed

Yum Corp has 215,000 shares of common stock outstanding. The par value is $.001, and the market value is $73.15 per share. On 24 January the Board of Directors declares a 15% stock dividend to be distributed on 12 February. The journal entry would be for the distribution on 12 February would be: Debit Common Stock Dividend Distributable 32.25 and Credit Common Stock 32.25. a) True b) False

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Company Accounting

Authors: Ken Leo, John Hoggett, John Sweeting, Jennie Radford

8th Edition

0470819731, 978-0470819739

More Books

Students also viewed these Accounting questions

Question

How would you support more positive behaviors and help

Answered: 1 week ago

Question

List at least three disadvantages to using a consultant.

Answered: 1 week ago

Question

How are arbitrators credentialed?

Answered: 1 week ago