Business, 17.06.2020 00:57 Ryan02717

On January 1, 2020, Frontier Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year. Required:
1. Journalize the declaration of a 15% stock dividend on December 10, 2019, for the following independent assumptions.

a. Par value is $10, and market price is $18.
b. Par value is $5, and market price is $20.

2. Compare effects of a stock dividend and a stock split.

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On January 1, 2020, Frontier Corporation had $1,000,000 of common stock outstanding that was issued...