On May 31,Mason Corporation has the following stockholders' equity:
Common Stock,$10 par value,6,000 shares
$\begin{array}{llcc}
\text { issued and outstanding } & \$60,000 \
\text { Retained Earnings } &\underline{20,000}\
\text { Total Stockholders' Equity } &\underline{\$80,000}\
\end{array}$
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 $15 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,6,000 shares
 $\begin{array}{llcc}
  \text { issued and outstanding } & \$60,000 \
 \text { Retained Earnings } &\underline{20,000}\
 \text { Total Stockholders' Equity } &\underline{\$80,000}\
\end{array}$
 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 $15 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,6,000 shares
 $\begin{array}{llcc}
  \text { issued and outstanding } & \$60,000 \
 \text { Retained Earnings } &\underline{20,000}\
 \text { Total Stockholders' Equity } &\underline{\$80,000}\
\end{array}$
 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 $15 per share.Prepare the appropriate journal entries for these transactions.

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

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