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Flashcards: Non-Income Financial Statements
The Ravenswood Company has 100,000 shares of outstanding common stock on December 31, Year 2. On January 15, Year 3, Ravenswood declares a stock dividend of 10,000 shares when the market value per share is $12. On the date of record, February 1, the market price per share is $15. The dividend is issued on March 1, when the market price per share is $18. What price per share will be used in the journal entry to record the dividend?
Par value
$12
$15
$18
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