On September 1, the board of directors of a company, declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date.Required:1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. need help NoDateGeneral JournalDebitCredit1September 01Retained Earnings92,400Common Stock28,600Additional Paid-in Capital63,8002September 01Stock Dividends924,000Common Stock286,000Additional Paid-in Capital638,000September 01No Journal Entry Required

Answered: On September 1, the board of directors…

On September 1, the board of directors of a company, declares a stock dividend on its 22,000, $13 par, common shares. The market price of the common stock is $42 on this date. Required:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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