Nutritious Pet Food Company's board of directors declares a large stock dividend (50%) on June 30 when the stock's market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). Treasury Stock Building Common Stock Additional Paid-in Capital Cash Land from Common Stock Common Stock Dividend Retained Earnings Cash Dividends Payable Distributable Additional Paid-in Capital Preferred Stock Equipment from Preferred Stock Prepare the following two journal entries. PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345).
Nutritious Pet Food Company's board of directors declares a large stock dividend (50%) on June 30 when the stock's market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). Treasury Stock Building Common Stock Additional Paid-in Capital Cash Land from Common Stock Common Stock Dividend Retained Earnings Cash Dividends Payable Distributable Additional Paid-in Capital Preferred Stock Equipment from Preferred Stock Prepare the following two journal entries. PLEASE NOTE: You must enter the account names exactly as written above and all dollar amounts will be rounded to whole dollars using "$" and commas as needed (i.e. $12,345).
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 13EB: Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30...
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