On July 1, 2019, NDC had outstanding 20,000 common shares, (originally sold at $5 per share); the current quoted market price is $7 per share.The company declared and issued a 10% common stock dividend; however, stock rights for 100 fractional shares were issued (10 shares).The rights currently had a quoted market price of $.80 each.Give the entry to record the dividend.

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The Answer of On July 1, 2019, NDC had outstanding 20,000 common shares, (originally sold at $5 per share); the current quoted market price is $7 per share.The company declared and issued a 10% common stock dividend; however, stock rights for 100 fractional shares were issued (10 shares).The rights currently had a quoted market price of $.80 each.Give the entry to record the dividend.

On July 1, 2019, NDC Had Outstanding 20,000 Common Shares