Global Corporation had 44,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 5% stock dividend when the market value of each share was $29. The entry to record the dividend declaration is:

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30-11-2022
Business

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Global Corporation had 44,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 5% stock dividend when the market value of each share was $29. The entry to record the dividend declaration is:

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Tutorconsortium315 Tutorconsortium315 · Answer 1 · 2022-12-02T21:13:27+01:00

Debit Secured Earnings is written in the entry. $63,800; debit Dividend Declaration. Dividends on Common Stock in the amount of $44,000 are due; credit $19,800 in rewarded capital over exceed of par value for common stock.

What stock meaning?

These certificates of corporate ownership are sometimes known as stocks. The share certificate of a particular corporation is referred to as a share, on the contrary hand. A shareholder is someone who owns stock in a certain company. The two categories of equities are common and preferred stocks.

What is a stock example?

Ownership in a publicly traded company is represented by stocks. When you acquire a company's shares, you become a shareholder. A corporation might have 100,000 shares, for example, and if you buy 1,000 of those, you will still own 1% of the company.

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