The Records Of Dixie Corporation Showed The Following Balances On January 1 2020 Common Stock 10 Par 30 000 Shares 1 (35.92 KiB) Viewed 50 times
The Records Of Dixie Corporation Showed The Following Balances On January 1 2020 Common Stock 10 Par 30 000 Shares 2 (40.51 KiB) Viewed 50 times
The Records Of Dixie Corporation Showed The Following Balances On January 1 2020 Common Stock 10 Par 30 000 Shares 3 (40.51 KiB) Viewed 50 times
The records of Dixie Corporation showed the following balances on January 1, 2020. Common stock, $10 par, 30,000 shares issued and outstanding $300,000 Paid-in capital in excess of par 102,000 Retained earnings 200,000 The fair value of its stock is $18 per share. Dixie Corporation entered the following transactions during 2020. 1. On February 1, 2020, declared a property dividend of 450 shares of Mobile Co. common stock that were purchased at $30 per share. The shares were selling at $28 per share on February 1, 2020. The dividend was paid on February 20, 2020. 2. On November 1, 2020, declared and issued a 10% stock dividend. Required: Prepare an journal entry for the declaration of dividends and for the payment of dividends. Nota Vaum
The records of Dixie Corporation showed the following balances on January 1, 2020. Common stock, $10 par, 30,000 shares issued and outstanding $300,000 Paid-in capital in excess of par 102,000 Retained earnings 200,000 The fair value of its stock is $18 per share. Dixie Corporation entered the following transactions during 2020. 1. On February 1, 2020, declared a property dividend of 450 shares of Mobile Co. common stock that were purchased at $30 per share. The shares were selling at $28 per share on February 1, 2020. The dividend was paid on February 20, 2020. 2. On November 1, 2020, declared and issued a 10% stock dividend. Required: Prepare an journal entry for the declaration of dividends and for the payment of dividends. a
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