Top-Value Corporation has 900,000 shares of $26 par common stock outstanding. On September 2, Top-Value Corporation declared a 3% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $44 per share on September 2. Required: Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction.
Top-Value Corporation has 900,000 shares of $26 par common stock outstanding. On September 2, Top-Value Corporation declared a 3% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $44 per share on September 2. Required: Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Top-Value Corporation has 900,000 shares of $26 par common stock outstanding. On September 2, Top-Value Corporation declared a 3% stock dividend to be issued November 30 to stockholders of record on October 3. The market price of the stock was $44 per share on September 2.
Required:
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