On June 1, 2021, Dell Co. declares 30% stock dividend on its 80,000 shares of...
50.1K
Verified Solution
Link Copied!
Question
Accounting
On June 1, 2021, Dell Co. declares 30% stock dividend on its 80,000 shares of $20 par value common stock outstanding, at that date the stock fair market value was $25. On September 1, 2021 Dell Co. issues the shares. The journal entry of common stock dividends distributable on June 1, 2021 is: * Debit $600,000 Debit $480,000 Credit $600,000 Credit $480,000 None of the above. September 1, 2021 journal entry will include: * Debit Stock Dividend $600,000 Debit Common Stock Dividends Distributable $600,000. Credit Common Stock $480,000. Credit Common Stock Dividends Distributable $480,000. None of the above
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
