Business, 21.07.2020 18:01 jordivivar74

Self minus Defense Schools, Inc. is authorized to issue 200,000 shares of $2 par common stock. The company issued 73,000 shares at $ 5 per share. When the market price of common stock was $ 7 per share, Self minus Defense Schools declared and distributed a 14% stock dividend. Later, Self minus Defense Schools declared and paid a $ 0.70 per share cash dividend. Required:
a. Journalize the declaration and the distribution of the stock dividend.
b. Journalize the declaration and the payment of the cash dividend.

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Self minus Defense Schools, Inc. is authorized to issue 200,000 shares of $2 par common stock. The c...

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