Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 17 Jan 2018 My Price 5.00

Hunter Racing Motors

Hunter Racing Motors is authorized to issue 500,000 shares of $1 par common stock. The company issued 80,000 shares at $4 per share, and all 80,000 shares are outstanding. When the market price of common stock was $5 per share, Hunter distributed a 10% stock dividend. Later, Hunter declared and paid a $0.50 per share cash dividend.

Required

1. Journalize the distribution of the stock dividend.

2. Journalize both the declaration and the payment of the cash dividend.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Jan 2018 08:01 PM My Price 5.00

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