Nutritious Pet Food Company's board of directors declares a small stock dividend (40%) on June 30 when the stock's market value per share is $26. At that time, there are 9,000 shares of $2 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank. June 30

Nutritious Pet Food Company's board of directors declares a small stock dividend (40%) on June 30 when the stock's market value per share is $26. At that time, there are 9,000 shares of $2 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank. June 30

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11EB: Nutritious Pet Food Companys board of directors declares a small stock dividend (20%) on June 30...

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