Davis Enterprises has 125,000 shares of $5 par value common stock outstanding. Davis declares a 40% stock dividend on November 2 when the stock’s market value is $64 per share. Prepare the journal entry for the declaration of the stock dividend.

Davis Enterprises has 125,000 shares of $5 par value common stock outstanding. Davis declares a 40% stock dividend on November 2 when the stock’s market value is $64 per share. Prepare the journal entry for the declaration of the stock dividend.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter16: Retained Earnings And Earnings Per Share

Section: Chapter Questions

Problem 3RE

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