Zurich Corporation has 40,000 shares of $60 par common stock outstanding. On June 8, Zurich Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $92 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank.
Zurich Corporation has 40,000 shares of $60 par common stock outstanding. On June 8, Zurich Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $92 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Entries for Stock Dividends
Zurich Corporation has 40,000 shares of $60 par common stock outstanding. On June 8, Zurich Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $92 per share on June 8.
Transcribed Image Text:* CngageNOWVzTOnne teachin X
CH 13Evam
IMU.13-U09
Entries for Stock Dividends
5. MC.13-071
Zurich Corporation has 40,000 shares of $60 par common stock outstanding. On June 8, Zurich Corporation declared a 5% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $92 per share on June 8.
6. MC.13-072
Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank.
Jun. 8
7. MC.13-073
8. MC.13-074
9. MC.13-075
Jul. 13
10. MC.13-081
Aug. 12
11. MC.13-091
12. MC.13-093
13. MC.13-097
14. MC.13-099
- MC.13-100
16. MC.13-107
17. MC.13-108
18. MC.13-110
19. MC.13-111
20. MC.13-120
21. MC.13-129
22. MC.13-131
23. MC.13-134
24. MC.13-138
25. MC.13-140
26. MA.13-149
27. PE.13-02.ALGO
28. PE.13-04.ALGO
29. PE.13-05 ALGO
30. EX.13-09.ALGO
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