The shareholders’ equity of Core Technologies Company on June
30, 2017, included the following:
Homework Answers
Table
| Number of outstanding shares | 3000000 |
| Stock dividend percentage | 10% |
| Number of shares to be issued | 300000 |
| Market price per share | 28 |
| Value of stock dividend | 8400000 |
Journal entry
| Date | account and explanation | Debit | Credit |
| Apr 1 | Stock dividend | 8400000 | |
| Common Stock dividend distributable | 300000 | ||
| Paid in capital in excess of par value-Common Stock | 8100000 | ||
| June 1 | Common Stock dividend distributable | 300000 | |
| Common Stock | 300000 | ||
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The shareholders’ equity of Core Technologies Company on June
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Problem 18-6 The shareholders’ equity of Core Technologies Company on June 30, 2017,included the following: Common stock, $1 par; authorized, 7 million shares: Issued and outstanding, 3 million shares $ 3,000,000 Paid-in capital-excess of par 12,000,000 Retained earnings 10,000,000 On April , 2018, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies’ common stock was $24 on April 1, 2018, and...
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