On January 1, 2012, Zouhair Corporation had $2,000,000 of $10 par value common stock outstanding…

On January 1, 2012, Zouhair Corporation had $2,000,000 of $10 par value common stock outstanding that was issued at par and retained earnings of $1,000,000. The company issued 200,000 shares of common stock at $12 per share on July 1. On December 15, the board of directors declared a 15% stock dividend to stockholders of record on December 31, 2012, payable on January 15, 2013. The market value of Zouhair Corporation stock was $15 per share on December 15 and $16 per share on December 31. Requirements 1. Journalize the declaration of the stock dividend on December 15, 2012 2. Journalize the distribution of the stock dividend on January 15, 2013  

Don't use plagiarized sources. Get Your Custom Essay on
On January 1, 2012, Zouhair Corporation had $2,000,000 of $10 par value common stock outstanding…
For as low as $7/Page
Order Essay