On May 31, Mason Corporation has the following stockholders' equity:
Common Stock, $10 par value, 9,000 shares
The board of directors declared a 10% stock dividend on June 5 to the stockholders of record on June 15. The stock is to be distributed on June 30. On the date of declaration, the stock had a market value of $13 per share. Prepare the appropriate journal entries for these transactions.

Question

On May 31, Mason Corporation has the following stockholders' equity:
Common Stock, $10 par value, 9,000 shares 
 The board of directors declared a 10% stock dividend on June 5 to the stockholders of record on June 15. The stock is to be distributed on June 30. On the date of declaration, the stock had a market value of $13 per share. Prepare the appropriate journal entries for these transactions.

Quizplus · Accepted Answer

The Answer of On May 31, Mason Corporation has the following stockholders' equity:
Common Stock, $10 par value, 9,000 shares 
 The board of directors declared a 10% stock dividend on June 5 to the stockholders of record on June 15. The stock is to be distributed on June 30. On the date of declaration, the stock had a market value of $13 per share. Prepare the appropriate journal entries for these transactions.

On May 31, Mason Corporation Has the Following Stockholders' Equity