ACC423 week two individual

ACC423 week two - A no journal entry is made 180,000,000.00 Worth 5 dollars each B 90,000,000.00 Retained Earnings 90,000,000.00 Common stock

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Unformatted text preview: A. no journal entry is made. 180,000,000.00 Worth 5 dollars each B. 90,000,000.00 Retained Earnings 90,000,000.00 Common stock 90,000,000.00 ( due to 100% dividend) C. The stock split increases the number of shares outstanding by issuing more shares at a Stock dividends can be a plablicity gesture. They can capitalize on part of a retianed Be able to understand the difference between a stock split and stock dividend a lower par value. The dividend declared increases the amount of stocks outstanding by getting th earning hem off the books. Journal Entries Dividends Pay (perferred) 20000 Dividends Pay (Common) 40000 Cash 60000 T Stock 68000 Cash 68000 Land 30000 T stock 28000 PIC from T Stock 2000 Cash 52500 Perferred Stock 50000 PIC in excess of par 2500 RE 85500 Common Stock...
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This note was uploaded on 09/14/2010 for the course ACC 429 taught by Professor Whitehurst during the Spring '10 term at Chattanooga State.

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ACC423 week two - A no journal entry is made 180,000,000.00 Worth 5 dollars each B 90,000,000.00 Retained Earnings 90,000,000.00 Common stock

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