Sammy, Inc. had 360,000 shares of $2 par value common stock issued and outstanding as of July 15, 2016. The company is authorized to issue 1,000,000 common shares. On July 15, 2016, Sammy declared a 50% stock dividend when the market value for Sammy's common stock was $5 per share. The stock was issued on Jul. 30. Journalize the declaration and distribution of the stock dividend. How many shares of common stock are outstanding after the dividend?
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Sammy, Inc. had 360,000 shares of $2 par value common stock issued and outstanding as of July 15, 20...
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