Happy Holiday, Inc. has 100,000 shares of common stock issued and outstanding, with a par value of $0.01 per share. They distributed a 15% common stock dividend; market value is $12 per share. Please provide the journal entry to record this transaction.

Question

Quizplus · Accepted Answer

The Answer of Happy Holiday, Inc. has 100,000 shares of common stock issued and outstanding, with a par value of $0.01 per share. They distributed a 15% common stock dividend; market value is $12 per share. Please provide the journal entry to record this transaction.