4. Nutritious Pet Food Company’s board of directors declares a large stock dividend (50%) on June 30 when the stock’s market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? Treasury Stock Building Common Stock Additional Paid-in Capital from Common Stock Cash Land Retained Earnings Common Stock Dividend Distributable Cash Dividends Payable Preferred Stock Equipment Additional Paid-in Capital from Preferred Stock PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Record the following journal entries: Jun. 30 - Declared a large stock dividend (50%): DR CR Jul. 31 - Record the stock dividend distribution: DR CR
4. Nutritious Pet Food Company’s board of directors declares a large stock dividend (50%) on June 30 when the stock’s market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? Treasury Stock Building Common Stock Additional Paid-in Capital from Common Stock Cash Land Retained Earnings Common Stock Dividend Distributable Cash Dividends Payable Preferred Stock Equipment Additional Paid-in Capital from Preferred Stock PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345). Record the following journal entries: Jun. 30 - Declared a large stock dividend (50%): DR CR Jul. 31 - Record the stock dividend distribution: DR CR
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 13EB: Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30...
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Question
4.
Nutritious Pet Food Company’s board of directors declares a large stock dividend (50%) on June 30 when the stock’s market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the
|
Building | Common Stock |
Additional Paid-in Capital from Common Stock | Cash | Land |
Retained Earnings | Common Stock Dividend Distributable | Cash Dividends Payable |
Equipment | Additional Paid-in Capital from Preferred Stock |
PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345).
Record the following journal entries:
- Jun. 30 - Declared a large stock dividend (50%):
-
DR CR - Jul. 31 - Record the stock dividend distribution:
-
DR CR
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