Cornerstone Exercise 10-34 (Algorithmic) Stock Dividend Bower Corporation reported the following information: common stock, $1...
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Cornerstone Exercise 10-34 (Algorithmic) Stock Dividend Bower Corporation reported the following information: common stock, $1 par; 100,000 shares authorized; 59,000 shares issued and outstanding Required: 1. what is the appropriate journal entry to record a 10% stock dividend if the market price of the common stock is $30 per share when the dividend is declared? Retained Earnings Common Stock Additional Paid-In Capital-Common Stock (Record small stock dividend) 2. what is the appropriate journal entry to record a 30% stock dividend if the market price of the common stock is $30 per share when the dividend is declared? Retained Earnings Additional Paid-In Capital-Common Stock (Record large stock dividend) 3. How do these transactions affect Bower's total stockholders' equity? Total stockholders' equity is unaffected by these transactions
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