Charger Corporation Currently Has 120,000 Shares Outstanding of $1 Par

question 235

Essay

Charger Corporation currently has 120,000 shares outstanding of $1 par value common stock.The stock was originally issued for $12 per share.On March 15,the board of directors declares and distributes a 10% stock dividend when the stock is selling for $16 per share.Prepare the journal entry to record the stock dividend.Omit explanation.

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Definitions:

Pleasure Principle

In psychoanalytic theory, the instinctual seeking of pleasure and avoidance of pain to satisfy biological and psychological needs.

Ego

In psychoanalytic theory, the part of the personality that mediates demands between the id, superego, and reality; operates on the reality principle.

Oral Stage

A phase in Freudian psychosexual development where an infant's pleasure centers are in the mouth, leading to behaviors like sucking and biting.

Freud

Refers to Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.