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Prepare the appropriate journal entries

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Question - The shareholders' equity accounts of Marigold Inc. have the following balances on December 31, 2020.

Common shares, 440,000 shares issued and outstanding - $13,200,000

Contributed surplus - $2,600,000

Retained earnings - 40,400,000

Common shares are currently trading on the Toronto Stock Exchange at $68.

Required -

a) A stock dividend of 20% is declared and issued at the fair value of the shares. Prepare the appropriate journal entries.

B) A stock dividend of 100% is declared and issued at the fair value of the shares. Prepare the appropriate journal entries.

C) Prepare the appropriate journal entries.

Reference no: EM132571803

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