Top-Value Corporation has 242,000 shares of $30 par common stock outstanding. On September 2, Top-Value Corporation declared a 2% stock dividend to be issuedNovember 30 to stockholders of record on October 3. The market price of the stock was $55 per share on September 2.Required:Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer tothe chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journalpage is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. PAGE 10JOURNALACCOUNTING EQUATIONDATEDESCRIPTIONPOST. REF.DEBITCREDITASSETSLIABILITIESEQUITY12345

Journal entry: This is the first step to record accounts. It is written in the same order in which…

Answered: PAGE 10 JOURNAL ACCOUNTING EQUATION…

Business

Accounting

PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 1MP: Stockholders equity accounts and other related accounts of Gonzales Company as of January 1, 20--,...

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Question

Top-Value Corporation has 242,000 shares of $30 par common stock outstanding. On September 2, Top-Value Corporation declared a 2% stock dividend to be issued
November 30 to stockholders of record on October 3. The market price of the stock was $55 per share on September 2.
Required:
Journalize the entries required on September 2, October 3, and November 30. If no entry is required, simply skip to the next transaction. Refer to
the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal
page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.

PAGE 10
JOURNAL
ACCOUNTING EQUATION
DATE
DESCRIPTION
POST. REF.
DEBIT
CREDIT
ASSETS
LIABILITIES
EQUITY
1
2
3
4
5

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