A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year:
$\begin{array}{|l|l|}
\hline\text { Apr. 15 } & \begin{array}{l}
\text { Declared a 40\% stock dividend to stockholders of record on May 1, to be } \
\text { issued May 10. The current market valued is } \$ 15 \text { per common share. }
\end{array} \
\hline \text { May 1 } & \text { Date of record. } \
\hline \text { May 10 } & \text { Issued the common stock dividend. }\
\hline
\end{array}$

Prepare the journal entries to record these transactions.

Question

A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year:
 $\begin{array}{|l|l|}
\hline\text { Apr. 15 } & \begin{array}{l}
\text { Declared a 40\% stock dividend to stockholders of record on May 1, to be } \
\text { issued May 10. The current market valued is } \$ 15 \text { per common share. }
\end{array} \
\hline \text { May 1 } & \text { Date of record. } \
\hline \text { May 10 } & \text { Issued the common stock dividend. }\
\hline
\end{array}$
 
Prepare the journal entries to record these transactions.

Quizplus · Accepted Answer

The Answer of A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year:
 $\begin{array}{|l|l|}
\hline\text { Apr. 15 } & \begin{array}{l}
\text { Declared a 40\% stock dividend to stockholders of record on May 1, to be } \
\text { issued May 10. The current market valued is } \$ 15 \text { per common share. }
\end{array} \
\hline \text { May 1 } & \text { Date of record. } \
\hline \text { May 10 } & \text { Issued the common stock dividend. }\
\hline
\end{array}$
 
Prepare the journal entries to record these transactions.

A Corporation Has 200,000 Shares of $10 Par Value Common