A 10% stock dividend was declared and distributed to shareholders of 60,000 outstanding shares of Meadville Company's $10 par value common stock; at that time the common stock's market price was $32. Prepare the journal entry required by the stock dividend.

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The Answer of A 10% stock dividend was declared and distributed to shareholders of 60,000 outstanding shares of Meadville Company's $10 par value common stock; at that time the common stock's market price was $32. Prepare the journal entry required by the stock dividend.

A 10% Stock Dividend Was Declared and Distributed to Shareholders