Homework Answers
requirement 1:
number of shares issued as dividend= 10,000 issued and outstanding *10%
=>1,000.
| Date | General journal | debit | credit |
| dec 31 | Retained earnings a/c | 115,000 | |
| .........To Stock dividends distributable a/c | 115,000 | ||
amount = 1000 shares *$115 per share market value =>$115,000.
requirement 2:
number of shares issued as dividend = 10,000 issued and outstanding *20%.
=>2,000.
| date | general journal | debit | credit |
| dec 31 | Retained earnings a/c | 230,000 | |
| .............To stock dividends distributable a/c | 230,000 | ||
amount = 2000 shares * $115 per share market value =>$230,000.
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