Business, 04.03.2021 21:50 isaaccott013

On January 1, Vaughn Corporation had 59000 shares of $10 par value common stock outstanding. On March 17, the company declared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was $15 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a debit to Common Stock Dividends Distributable for $88500. credit to Paid-in Capital in Excess of Par for $44250. debit to Stock Dividends for $44250. credit to Cash for $88500.

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On January 1, Vaughn Corporation had 59000 shares of $10 par value common stock outstanding. On Marc...

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