On September 1, the board of directors of Colorado Outfitters, Incorporated, declares and issues a stock dividend on its 21,000, $12 par, common shares. The market price of the common stock is $41 on this date.Required:1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet123Record the stock dividend assuming a small (10%) stock dividend.Note: Enter debits before credits.DateGeneral JournalDebitCreditSeptember 01Stock Dividends86,100Common Stock25,200Record entryClear entryView general journal Journal entry worksheet>Record the stock dividend assuming a large (100%) stock dividend.Note: Enter debits before credits.DateGeneral JournalDebitCreditSeptember 01Stock Dividends861,000Common Stock252,000Record entryClear entryView general journal

Small stock dividend A small stock dividend is distribution of 25 percent or less outstanding…

1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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