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

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

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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