Milton Corporation Declared and Distributed a 8% Stock Dividend

question 9

Essay

Milton Corporation declared and distributed a 8% stock dividend.Milton had 440,000 common shares outstanding and 940,000 common shares authorized before the stock dividend.The board of directors determined the appropriate market value per share as $10.
Requirement:
How much should be recorded for the stock dividend? Record the journal entry (if any)for the shares distributed.

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Definitions:

Latent Learning

A form of learning that occurs without any obvious reinforcement and is not demonstrated until there is motivation to do so.

Shaping

The process in operant conditioning that involves reinforcing behaviors that are closer to the desired behavior.

Antisocial Effects

Behaviors that negatively impact society or the well-being of others, often associated with disregard for social norms.

Aggressive Models

Aggressive models refer to behaviors or individuals that serve as examples for aggression, influencing others to mimic such actions through observational learning.