Homework Answers
Stock dividend = 240,000 * 5% = 12,000 shares
Market value = 12,000 * $9 = $108,000
42)
Stock dividend account..........................debit $108,000
Stock dividend distributable account........Credit $108,000
43)
Market value revised to $12, will have no impact
Stock dividend distributable account....Debit $108,000
To common shares account...................Credit $108,000
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