Prepare journal entries for each of the following transactions.
June 25
Declared a 7% stock dividend to common shareholders. The market value of the common stock is $14 per share. The par value is $13. There are 60,000 shares of common stock outstandinG.July 1
Issued stock dividend in settlement of dividend declared on June 25.

Question

Prepare journal entries for each of the following transactions.
June 25
Declared a 7% stock dividend to common shareholders. The market value of the common stock is $14 per share. The par value is $13. There are 60,000 shares of common stock outstandinG.July 1
Issued stock dividend in settlement of dividend declared on June 25.
​

Quizplus · Accepted Answer

The Answer of Prepare journal entries for each of the following transactions.
June 25
Declared a 7% stock dividend to common shareholders. The market value of the common stock is $14 per share. The par value is $13. There are 60,000 shares of common stock outstandinG.July 1
Issued stock dividend in settlement of dividend declared on June 25.
​

Prepare Journal Entries for Each of the Following Transactions