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Unformatted text preview: **Watch out for no previous treasury stock – it would go to Retained Earnings Cash Dividend Micor declared a cash dividend of $1,50 per share on its 2 million outstanding shares. The dividend was declared on August 1, payable on September 9 to all stock holders of record on Aug. 15. Property Dividend Available for sale securities cost $875,000. On sept 21. 2008 market value was $1,400,000. Securities distributed on Oct. 23 to stokeholders of record on Oct. 8. Stock Dividend Mike has outstanding 200,000 shares of $10 par value common stock. The cop declares a 5% stock dividend when the fair market value of the stock is $65 per share. Prepare entries for declaration and distribution. 5% stock dividend 100% stock dividend...
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- Spring '10
- value common stock