Richman Corporation has 120,000 ordinary shares with a €5 par value outstanding. It declared a 15% share dividend on June 1 when the market price per share was €12. The shares were issued on June 30.
Instructions
Prepare the necessary entries for the declaration and payment of the share dividend.

Question

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The Answer of Richman Corporation has 120,000 ordinary shares with a €5 par value outstanding. It declared a 15% share dividend on June 1 when the market price per share was €12. The shares were issued on June 30.
Instructions
Prepare the necessary entries for the declaration and payment of the share dividend.

Richman Corporation Has 120,000 Ordinary Shares with a €5 Par