Minnick Corp. has 900,000 no par common shares authorized, of which 400,000 shares are outstanding. The average carrying value of the shares is $ 6 per share. When the market value was $ 10 per share, Miinick declared a 10% stock dividend. What entry, if any, should Minnick make to record this dividend declaration?

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The Answer of Minnick Corp. has 900,000 no par common shares authorized, of which 400,000 shares are outstanding. The average carrying value of the shares is $ 6 per share. When the market value was $ 10 per share, Miinick declared a 10% stock dividend. What entry, if any, should Minnick make to record this dividend declaration?