Concordia Corporation has 96,900 common shares that have been issued. It declares a 4% stock dividend on December 1 to shareholders of record on December 20. The shares are issued on January 10. The share price is $15 on December 1, $14.50 on December 20, and $14.75 on January 10. b) Provide the required journal entries on the appropriate dates to record the stock dividend. Only provide account names as the dollar amount has already been calculated in part a). (If no entry is required, select "No Entry" for the account titles.) December 1 Dividends Declared Dividends Payable Stock Dividends Distributable Common Shares Preferred Shares Retained Earnings Cash No Entry < >
Concordia Corporation has 96,900 common shares that have been issued. It declares a 4% stock dividend on December 1 to shareholders of record on December 20. The shares are issued on January 10. The share price is $15 on December 1, $14.50 on December 20, and $14.75 on January 10. b) Provide the required journal entries on the appropriate dates to record the stock dividend. Only provide account names as the dollar amount has already been calculated in part a). (If no entry is required, select "No Entry" for the account titles.) December 1 Dividends Declared Dividends Payable Stock Dividends Distributable Common Shares Preferred Shares Retained Earnings Cash No Entry < >
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Concordia Corporation has 96,900 common shares that have been issued. It declares a 4% stock dividend on December 1 to shareholders of record on December 20. The shares are
issued on January 10. The share price is $15 on December 1, $14.50 on December 20, and $14.75 on January 10.
b) Provide the required journal entries on the appropriate dates to record the stock dividend. Only provide account names as the dollar amount has already been calculated in part a).
(If no entry is required, select "No Entry" for the account titles.)
December 1
Dividends Declared
Dividends Payable
Stock Dividends Distributable
Common Shares
Preferred Shares
Retained Earnings
Cash
No Entry
<
>
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