Home / Questions / Tucson Inc has 30,000 shares of $10 par value common stock outtstanding and cetained.earni...
Tucson, Inc. has 30,000 shares of $10 par value common stock outtstanding and cetained.earnings of S656,000. Tucson declares a cash dividend of $4.00 per share and, shortly thereafter, a 6% stock dividend. The market price of the stock is $44 per share at the declaration date of the stock dividend Required: Prepare the general journal entries for (1) the declaration of the dividends and (2) the payment (or issuance) of the dividends. Credit Debit Date Accounts
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Apr 15 2021