Homework Answers
| Date | Account Titles and Explanation | Debit | Credit |
| Dec. 1 | Stock Dividends (51,500 shares * $17 per share * 15/100) | $131,325 | |
| Common Stock Dividends Distributable (51,500 shares * $11 per share * 15/100) | $84,975 | ||
| Paid-in Capital in Excess of Par - Common Stock ($17 per share - $11 per share = $6 pe share * 51,500 shares * 15/100) | $46,350 | ||
| (To record the declaration of 15% stock dividends on common stock) | |||
| Dec. 31 | Common Stock Dividends Distributable | $84,975 | |
| Common Stock | $84,975 | ||
| (To record the issue of 15% stock dividends) |
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CALCULATOR FULL SCREEN PRINTER VERSION BACK NEX Brief Exercise 14-03 Crane Corporation has 51,500 shares of...
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PLEASE SHOW ALL WORK. THANK YOU!
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