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stepladder [879]
3 years ago
12

The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2019.

Business
1 answer:
viktelen [127]3 years ago
7 0

Answer:

Please see below

Explanation:

a. A 5% stock dividend is declared and distributed when the market per share was $39.

Common stock par value($10) 500,000

Retained earning = 50,000 × 5% × 39

= $97,500

Common stock dividend distributed

50,000 × 5% × $10

= $25,000

See attached further explanations.

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