I would I find the numbers I need to use to plug in? What are...

80.2K

Verified Solution

Question

Accounting

image

image

I would I find the numbers I need to use to plug in? What are the formualas to solve?

Cash and Stock Dividends Mandrich Corporation has 25,000 shares of $10 par value common stock outstanding. The company has $450,000 of retained earnings. At year-end, the company declares a cash dividend of $2.10 per share and a five percent stock dividend. The market price of the stock at the declaration date is $35 per share. Four weeks later, the company pays the dividends. a. Prepare the journal entry for the declaration of the cash dividend. b. Prepare the journal entry for the declaration of the stock dividend. C.Prepare the journal entry for the payment of the cash dividend. d. Prepare the journal entry for the payment of the stock dividend

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