On December 1, 2017, Galahad, Inc had 200,000 shares of $1 par value common stock issued and outstanding
The next day Galahad declared and distributed a 50% stock dividend. The market value of the stock on December 2, 2017 was $9 per share. Prepare the journal entry for the transaction.
What will be an ideal response
Stock Dividend 100,000
Common Stock 100,000 .(200,000 x 50%) x $1 = $100,000
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