E Course Sched Your eBay Sho t shea moisture Shea Moistur . Cengage Cengager × C
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E Course Sched Your eBay Sho t shea moisture Shea Moistur . Cengage Cengager × Chegg Study News I Dash b + v LT X v2 cengagenow.com/ilm Assignmentain do?invoker-assignments takeAssignmen Session cator-assignment-takem Ch 13-2 Practice Exercises eBook Show Me How Calculator Print item Entries for Stock Divldends Paris Corporation has 17,000 shares of $50 par com rmon stock outstanding. On June 8, Paris Corporation declared a 4% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $66 per share on June 8 Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. 1. PE. 13-01.ALGO 2. PE.13-02.ALGO 3. PE.13-03.ALGO 4. PE.13-04.ALGO Jun. 8 5. PE.13-05.ALGO 6. PE.13-06.ALGO 7. PE. 13-08.ALGO Jul. 13 8. PE.13-07.ALGO Aug. 12 Check My Work 2 more Check My Work uses remalning Previous Next Progress: 4/8 items Assignment Score: 0.0% Email Instructor Save and Exit Submit Assignment for Grading Type here to search a12:08 PM 3/4/2018 26Explanation / Answer
Calculation of Dividend: Total Shares = 17,000
Dividend declared = 4% = 17,000 x 4% = 680 Shares
Price at the date = $66
Total = $66 x 680 = $44,880
Date General Journal Debit Credit June 8 Retained Earnings $44,880 Common Stock Dividend Distributable $34,000 Paid in Capital in Excess of Par - Common Stock $10,880 Jul. 13 No entry Required Aug. 12 Common Stock Dividend Distributable $34,000 Common Stock $34,000Related Questions
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