The common stock of Bonita Inc. is currently selling at $121 per share....
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Accounting
The common stock of Bonita Inc. is currently selling at $ per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $; book value is $ per share. million shares are issued and outstanding.
Prepare the necessary journal entries assuming the following. List all debit entries before credit entries. Enter amounts in dollars. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts.
a The board votes a for stock split.
b The board votes a stock dividend.
No Account Titles and Explanation
a
b
b
To record the declaration
Debit
Credit
Credit
Answer & Explanation
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