On January 1, 2014, Holt Corporation Had $1,000,000 of Common

question 137

Essay

On January 1, 2014, Holt Corporation had $1,000,000 of common stock outstanding that was issued at par and retained earnings of $750,000. The company issued 60,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year.
Instructions
Journalize the declaration of a 15% stock dividend on December 10, 2014, for the following two independent assumptions.
(a) Par value is $10 and market value is $16.
(b) Par value is $5 and market value is $8.

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Definitions:

CPT

Current Procedural Terminology, a medical code set used to describe medical, surgical, and diagnostic services and procedures.

Classification

The process of organizing or categorizing objects, information, or phenomena into predefined groups or classes based on shared qualities or characteristics.

CPT

Abbreviation for Current Procedural Terminology, a medical code set used to describe medical, surgical, and diagnostic services and procedures.

Supplementary Classifications

Additional categories or groupings that complement the primary system of classification, often used to provide more detailed information.