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The shareholders’ equity of Raven Company is as shown:   RAVEN COMPANY Partial Balance Sheet 1 Common stock, $10 par $300,000.00 2 Additional paid-in capital on common stock 200,000.00 3 Retained earnings 200,000.00 4   $700,000.00       Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $20 per share   Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15, assuming the board of directors recommends a 40% stock dividend.

The shareholders’ equity of Raven Company is as shown:   RAVEN COMPANY Partial Balance Sheet 1 Common stock, $10 par $300,000.00 2 Additional paid-in capital on common stock 200,000.00 3 Retained earnings 200,000.00 4   $700,000.00       Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $20 per share   Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15, assuming the board of directors recommends a 40% stock dividend.

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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The shareholders’ equity of Raven Company is as shown:
 
RAVEN COMPANY
Partial Balance Sheet
1
Common stock, $10 par
$300,000.00
2
Additional paid-in capital on common stock
200,000.00
3
Retained earnings
200,000.00
4
 
$700,000.00
 
 
 
Raven is considering the declaration and issuance of a stock dividend at a time when the market price is $20 per share
 
Prepare the appropriate journal entries for the declaration on December 1 and payment or distribution of the dividend on December 15, assuming the board of directors recommends a 40% stock dividend.
 
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