Entries for Stock Dividends Madrid Corporation has 28,000 shares of $40 par common stock outstanding....
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Entries for Stock Dividends Madrid Corporation has 28,000 shares of $40 par common stock outstanding. On June 8, Madrid Corporation dedared a 3% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $52 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required and leave the amount boxes blank. Jun. Jul. 13 Aug. 12
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