Silang Vayman Ltd. is a travel agency that specializes in tours to South Korea and Russia. It has 88,000 common shares issued and outstanding. On April 17, 2020, the organization declared a 51% stock dividend. Prepare the journal entry to record the declaration and distribution (on May 1, 2020) of the dividend. The market price on the date of declaration was $30 per share. Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Credit Apr 17 Record stock dividends May 1

Silang Vayman Ltd. is a travel agency that specializes in tours to South Korea and Russia. It has 88,000 common shares issued and outstanding. On April 17, 2020, the organization declared a 51% stock dividend. Prepare the journal entry to record the declaration and distribution (on May 1, 2020) of the dividend. The market price on the date of declaration was $30 per share. Do not enter dollar signs or commas in the input boxes. Date Account Title and Explanation Debit Credit Apr 17 Record stock dividends May 1

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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Q7
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