COLLEGE ACCT.,CH.1-9-W/CENGAGENOW2
COLLEGE ACCT.,CH.1-9-W/CENGAGENOW2
23rd Edition
ISBN: 9780357252314
Author: HEINTZ
Publisher: CENGAGE L
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Chapter 21, Problem 4SEA

STOCK DIVIDENDS Kaufman Company currently has 200,000 shares of $1 par common stock outstanding. On March 15, a 10% stock dividend was declared to shareholders of record on April 2, distributable on April 14. Market value of the common stock was estimated at $5 per share.

1. Prepare journal entries for the declaration and distribution of the 10% common stock dividend.

2. Assume Kaufman Company declared a stock dividend of 30% rather than 10%. Prepare journal entries for the declaration and distribution of the 30% common stock dividend.

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COLLEGE ACCT.,CH.1-9-W/CENGAGENOW2

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Dividend explained; Author: The Finance Storyteller;https://www.youtube.com/watch?v=Wy7R-Gqfb6c;License: Standard Youtube License