On October 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend...
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Accounting
On October 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 26,000, $17 par, common shares. The market price of the common stock is $46 on this date.
Required:
1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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