On June 30, the board of directors of Sandals, Inc., declares and pays a 100% stock dividend on its 18,000, $1 par, common shares. The market price of Sandals common stock is $23 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

On June 30, the board of directors of Sandals, Inc., declares and pays a 100% stock dividend on its 18,000, $1 par, common shares. The market price of Sandals common stock is $23 on June 30. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter15: Dividend Policy

Section: Chapter Questions

Problem 14P

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