On July 1, 2019, the Board of Directors of BXC

question 170

Essay

On July 1, 2019, the Board of Directors of BXC declared a stock dividend that required the issuance of 5,000 common shares.The common shares had a market value at this date of $18 per share.Retained earnings amounted to $900,000.Give the entry to record the stock dividend (the shares wer issued), assuming:
The 5,000 shares represented 10% of the previously outstanding shares.

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Definitions:

Sales Account

A customer's record with a company, detailing their purchases, transactions, and preferences.

Mission Statements

Formal summaries that define a company's core purpose, objectives, and approach to reach its goals, intended to guide its internal decision-making processes.

Vision Statements

Declarations of an organization's long-term goals and aspirations, intended to guide its internal decision-making.

Marketing Plans

Detailed, strategic documents that outline a company's marketing efforts, objectives, strategies, and actions to achieve specific business goals.