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Question 1 part2: On October 1 green corporation's stock equity is : Common stock 10$ par value 40,000 Share issued &outstanding $400,000 Paid in Capital in excess of par common stock $25000 Retained Earnings $155000 If you know on October1 the corporation declares Stock dividend 10% when the Market price of the stock is $16per share. 2) On November The journal entry to record the distribution of Stock Dividend is: Dr. Common stock dividend distributable $40,000 A O Cr. Common Stock $ 40,000 Dr Common Stock $120.000

Question 1 part2: On October 1 green corporation's stock equity is : Common stock 10$ par value 40,000 Share issued &outstanding $400,000 Paid in Capital in excess of par common stock $25000 Retained Earnings $155000 If you know on October1 the corporation declares Stock dividend 10% when the Market price of the stock is $16per share. 2) On November The journal entry to record the distribution of Stock Dividend is: Dr. Common stock dividend distributable $40,000 A O Cr. Common Stock $ 40,000 Dr Common Stock $120.000

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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Question 1 part2: On October 1 green corporation's stock equity is : Common stock 10$ par value 40,000 Share issued &outstanding $400,000 Paid in Capital in excess of par common stock $25000 Retained Earnings $155000 If you know on October1 the corporation declares Stock dividend 10% when the Market price of the stock is $16per share. 2) On November The journal entry to record the distribution of Stock Dividend is: Dr. Common stock dividend distributable $40,000 A O Cr. Common Stock $ 40,000 Dr. Common Stock $120,000 .B O Cr. Stock dividend $120,000
Transcribed Image Text:Question 1 part2: On October 1 green corporation's stock equity is : Common stock 10$ par value 40,000 Share issued &outstanding $400,000 Paid in Capital in excess of par common stock $25000 Retained Earnings $155000 If you know on October1 the corporation declares Stock dividend 10% when the Market price of the stock is $16per share. 2) On November The journal entry to record the distribution of Stock Dividend is: Dr. Common stock dividend distributable $40,000 A O Cr. Common Stock $ 40,000 Dr. Common Stock $120,000 .B O Cr. Stock dividend $120,000
Question 1 part1: On October 1 green corporation's stock equity is : Common stock 10$ par value 40,000 Share issued &outstanding $400,000 Paid in Capital in excess of par common stock $25000 Retained Earnings $155000 If you know on October1 the corporation declares Stock dividend 10% when the Market price of the stock is $16per share. 1) On October The journal entry to record the declaration entry is: Dr. Stock dividend $64,000 Cr. Common stock dividend distributable $40,000 Cr. Paid in capital in excess of par value common stock $24,000 A O Dr. Stock dividend $40,000 Cr. Common stock dividend distributable $40,000 .B O
Transcribed Image Text:Question 1 part1: On October 1 green corporation's stock equity is : Common stock 10$ par value 40,000 Share issued &outstanding $400,000 Paid in Capital in excess of par common stock $25000 Retained Earnings $155000 If you know on October1 the corporation declares Stock dividend 10% when the Market price of the stock is $16per share. 1) On October The journal entry to record the declaration entry is: Dr. Stock dividend $64,000 Cr. Common stock dividend distributable $40,000 Cr. Paid in capital in excess of par value common stock $24,000 A O Dr. Stock dividend $40,000 Cr. Common stock dividend distributable $40,000 .B O
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