Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2021, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2022 to the stockholders of record on January 15, 2022. The market price of the company's stock is $10 per share on December 31 2021

Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2021, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2022 to the stockholders of record on January 15, 2022. The market price of the company's stock is $10 per share on December 31 2021

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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