Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018. Required:
Complete the necessary journal entry to record.

please see answer in explanation column

Explanation:

Journal entry for December 31st , 2018

DateAccount                         Debit           Credit

31-Dec   Retained Earning          $200,000  

Common stock distributable                                $40,000

Addtional Paid in capital in excess of Par               $160,000

Calculation:

Total Number of shareS= 100000

Value per share= $2

The market value of stock=$10

declared Stock Dividend =20%

Total Number of new stock to be issued to shareholder

= (100000 X  20%) = 20,000 shares

 Retained Earning   = 20000 shares  x $10 market value= $200,000

Common stock=20000 shares  x $2 Par value = $40,000

Paid up capital in excess of Par =20000 shares  x ($10 -$2) = $160,000

Journal to record Stock dividend  distributed on Jan 20, 2019 to the stockholder on record on Jan 15, 2019)  

Date          Account                                     Debit           Credit    

Jan 20 Common stock dividend distributable  $40,000

                  Common stock                                              $40,000

Calculation

Common stock dividend distributable =20000 shares  x $2 Par value =$40,000  

i mean they dont have to

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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