Minnick Corp

question 14

Short Answer

Minnick Corp. has 900,000 no par common shares authorized, of which 400,000 shares are outstanding. The average carrying value of the shares is $ 6 per share. When the market value was $ 10 per share, Miinick declared a 10% stock dividend. What entry, if any, should Minnick make to record this dividend declaration?

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Definitions:

Supportive Leadership

A leadership style characterized by the provision of encouragement, feedback, and resources to help individuals or teams succeed.

Directive Leadership Style

A leadership approach where the leader tells team members what to do, how to do it, and when it needs to be done, with little input from them.

Path-Goal Leadership Theory

A theory that suggests leaders can increase subordinate satisfaction and performance by clarifying the path to goal achievement, removing obstacles, and offering rewards.

Directive Leader

A leadership style characterized by providing clear instructions, guidance, and expectations to team members.