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majestico majestico
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On May 31, Mason Corporation has the following stockholders' equity:

Common Stock, $12 par value, 8,000 shares
issued and outstanding   $96,000
Retained Earnings   20,000
Total Stockholders' Equity   $116,000

The board of directors declared a 10% stock dividend on June 5 to the stockholders of record on June 15. The stock is to be distributed on June 30. On the date of declaration, the stock had a market value of $15 per share. Prepare the appropriate journal entries for these transactions.
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College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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LaffioLaffio
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