Reference no: EM133153417
Question - On January 1, 2020, Dole, Inc., declared a 15% stock dividend on its common stock when the market value of the common stock was $20 per share. The date of record is January 30, 2020, and the distribution date is February 15, 2020. Stockholders' equity before the stock dividend was declared consisted of:
Common stock, $10 par value, 200,000 shares authorized, 120,000 shares issued and outstanding: $1,200,000
Additional paid-in capital: 150,000
Retained earnings: 700,000
Total $2,050,000
Required - Calculate the amounts and prepare the applicable journal entries on January 1, 2020, January 30, 2020, and February 15, 2020. If no entry is needed, write the date and "no entry needed."
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