A Corporation Has 200,000 Shares of $10 Par Value Common

question 30

Essay

A corporation has 200,000 shares of $10 par value common stock outstanding.The following selected transactions related to the company's stock took place during the current year:
$$\begin{array} { | l | l | } \hline \text { Apr. } 15 & \begin{array} { l } \text { Declared a 40\% stock dividend to stockholders of record on May } 1 , \text { to be } \\\text { issued May } 10 \text {. The curent riarket valued is } \$ 15 \text { per common share. }\end{array} \\\hline \text { May 1 } & \text { Date of record. } \\\hline \text { May } 10 & \text { Issued the common stock dividend. } \\\hline\end{array}$$
Prepare the journal entries to record these transactions.

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Definitions:

Product Attributes

Characteristics or features of a product that can include quality, size, functionality, and design.

Supply Chain Profitability

The overall financial gain generated through the management and coordination of the supply chain, encompassing all stages from material sourcing to product delivery to the end customer.

Spot Market

A public financial market in which commodities or financial instruments are traded for immediate delivery.

Demand

The quantity of a product or service that consumers are willing and able to buy at a given price.