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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 24
Journalizing stock dividends
This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 12-44 of Chapter 12. On October 15, Lawlor Lawn Service declares and distributes a 10% stock dividend to all common shareholders of record on October 15 when the market price per common share is $5. Lawlor has 100 shares of common stock out-standing on the date of record.
Requirements
1. Is this a small or large stock dividend
2. Journalize the entries related to the dividend.
This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 12-44 of Chapter 12. On October 15, Lawlor Lawn Service declares and distributes a 10% stock dividend to all common shareholders of record on October 15 when the market price per common share is $5. Lawlor has 100 shares of common stock out-standing on the date of record.
Requirements
1. Is this a small or large stock dividend
2. Journalize the entries related to the dividend.
Explanation
Verified
Verified
This is a small stock dividend...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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