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a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. c. Prepare the journal entry to record the stock dividend

a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model. c. Prepare the journal entry to record the stock dividend

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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a Exercise 11-15A (Algo) Accounting for stock dividends LO 11-7 Beacon Corporation issued a 7 percent stock dividend on 33,500 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $22 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model c. Prepare the journal entry to record the stock dividend Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount of the stock dividend. Stock dividend
Transcribed Image Text:a Exercise 11-15A (Algo) Accounting for stock dividends LO 11-7 Beacon Corporation issued a 7 percent stock dividend on 33,500 shares of its $7 par common stock. At the time of the dividend, the market value of the stock was $22 per share. Required a. Compute the amount of the stock dividend. b. Show the effects of the stock dividend on the financial statements using a horizontal statements model c. Prepare the journal entry to record the stock dividend Complete this question by entering your answers in the tabs below. Required A Required B Required C Compute the amount of the stock dividend. Stock dividend
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