Homework Help is Here – Start Your Trial Now!
Business
Accounting
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
See similar textbooks
icon
Related questions
Question
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
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS