A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price was $13 per share. What is the number of new shares to be issued as a result of the stock dividend? Group of answer choices 13,000 shares 10,000 shares 20,000 shares

A company with 100,000 authorized shares of $4 par common stock issued 50,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price was $13 per share. What is the number of new shares to be issued as a result of the stock dividend? Group of answer choices 13,000 shares 10,000 shares 20,000 shares

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...

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Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the stock dividend distribution on July 31?
Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30 when the stocks market value per share is $30. At that time, there are 10,000 shares of $1 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend?
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