3. A corporation had 20,000 shares of $10 par value common stock outstanding when the...

90.2K

Verified Solution

Question

Accounting

3. A corporation had 20,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 8,000 shares. At the time of the stock dividend, the market value per share was $22. The entry to record this dividend is:

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students