On January 1, Bramble Corp. had 122000 shares of $10 par value common stock outstanding....
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Accounting
On January 1, Bramble Corp. had 122000 shares of $10 par value common stock outstanding. On March 17 the company declared a 10\% stock dividend to stockholders of record on March 20. Market value of the stock was $14 on March 17. The entry to record the transaction of March 17 would include a credit to Cash for $170800. credit to Stock Dividends for $48800. debit to Common Stock Dividends Distributable for $122000. credit to Common Stock Dividends Distributable for $122000
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