The stockholders' equity accounts of Caitlyn's
Cookie Corp. (CCC)
balances as of December 31, 2020 are as follows:
Common stock, $2.50 par
$150,000
Paid in capital in excess of par
$850,000
Retained earnings
$4,500,000
Required:
Prepare the appropriate journal entry for each of the
following
2021 transactions:
15-Jan
CCC declares a 30% stock
dividend
Shares of CCC are currently selling on the NYSE at
$22.
14-Feb
30% stock dividend distribution date, FMV of stock
= $24
9-May
CCC declares a 4% stock
dividend
Shares of CCC are currently selling on the NYSE at
$25.
16-May
4% stock dividend distribution date, FMV of stock
= $26
20-Jun
CCC declares a $.70 per share
cash dividend
4-Jul
Cash dividend payment date
The stockholders' equity accounts of Caitlyn's Cookie Corp. (CCC) balances as of December 31, 2020 are a
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