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on October 10, the board of directors of pinto corporation declared a 10% stock dividend. On October 10, the company had 10000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. the stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend A. Declaration B. Distribution

on October 10, the board of directors of pinto corporation declared a 10% stock dividend. On October 10, the company had 10000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. the stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend A. Declaration B. Distribution

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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on October 10, the board of directors of pinto corporation declared a 10% stock dividend. On October 10, the company had 10000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. the stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend A. Declaration B. Distribution
Transcribed Image Text:on October 10, the board of directors of pinto corporation declared a 10% stock dividend. On October 10, the company had 10000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. the stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend A. Declaration B. Distribution
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