Ask Question
28 August, 23:41

Wallendo Corporation issued 5,000 shares of its $1 par value common stock as a stock dividend when the shares were selling for $10 per share. At the time of the dividend, Wallendo had 100,000 shares of common stock $5,000. $100,000. $50,000. $105,000. outstanding. These shares were originally issued for $5 per share. The entry to record the stock dividend includes a debit to Retained Earnings for:

0
Answers (1)
  1. 29 August, 00:30
    0
    The answer id given below

    Explanation:

    Retained Earnings 5,000*10 Dr.$25,000

    Capital 5,000*1 Cr.$5,000 Paid in Capital 5000 * (10-1) Cr.$45,000

    The retained earnings will be debited with market price of shares given as dividend.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Wallendo Corporation issued 5,000 shares of its $1 par value common stock as a stock dividend when the shares were selling for $10 per ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers