FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Nutritious Pet Food Company's board of directors declares a small stock dividend (40%)
on June 30 when the stock's market value per share is $26. At that time, there are
9,000 shares of $2 par value common stock outstanding (none held in treasury).
What is the journal entry to record the declaration of the dividend? If an amount box
does not require an entry, leave it blank.
June 30
Additional Paid-in Capital-Common Stock
Cash
Office Equipment
Retained Earnings
Treasury Stock
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Transcribed Image Text:Nutritious Pet Food Company's board of directors declares a small stock dividend (40%) on June 30 when the stock's market value per share is $26. At that time, there are 9,000 shares of $2 par value common stock outstanding (none held in treasury). What is the journal entry to record the declaration of the dividend? If an amount box does not require an entry, leave it blank. June 30 Additional Paid-in Capital-Common Stock Cash Office Equipment Retained Earnings Treasury Stock
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