Reference no: EM132221327
Question - On January 1, 2018, Youzhny Corporation had $6,300,000 of $4 par value common stock outstanding that was issued at par and retained earnings of $4,000,000.
The company issued 450,000 shares of common stock at $16 per share on May 1.
On october 15, the board of directors declared a 15% stock dividend to stockholders of record on october 31, 2018, payable on November 15, 2018. The market value of youzhny corporation stock was $26 per share on November 15 and $29 per share on October 31. Net income for 2018 was $455,000.
Instructions - Journalize the issuance of stock on may 1, the declaration of the stock dividend on october15, 2018, and the issuance of the stock dividend on November 15, 2018.
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