Prepare journal entries for each of the following transactions.
June 25
Declared a 7% stock dividend to common shareholders. The market value of the common stock is $14 per share. The par value is $13. There are 60,000 shares of common stock outstandinG.July 1
Issued stock dividend in settlement of dividend declared on June 25.
Definitions:
Book Value
The net value of a company's assets minus its liabilities, as recorded on the balance sheet, often compared to its market value to assess if it's under or overvalued.
Retained Earnings
The portion of a company's profit that is held back and not distributed to shareholders in order to reinvest in the business or pay off debt.
Stock Dividend
A dividend payment made to shareholders in additional shares rather than in cash, effectively redistributing a portion of the company's retained earnings as additional stocks.
Q15: The straight-line method of amortizing a bond
Q24: A period of two consecutive years is
Q27: Bonds that are backed solely by specific
Q46: Preferred stock on which the unpaid dividends
Q46: A dividend payable in cash.<br>A)cash dividend<br>B)date of
Q53: The Discount on Bonds Payable balance is
Q75: When two proprietors decide to combine their
Q89: Cash generated from operating activities may be
Q90: The estimated market value of an asset
Q95: Island Cove Corporation had the following bond