On July 1, 2019, the Board of Directors of BXC declared a stock dividend that required the issuance of 5,000 common shares.The common shares had a market value at this date of $18 per share.Retained earnings amounted to $900,000.Give the entry to record the stock dividend (the shares wer issued), assuming:
The 5,000 shares represented 10% of the previously outstanding shares.

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The Answer of On July 1, 2019, the Board of Directors of BXC declared a stock dividend that required the issuance of 5,000 common shares.The common shares had a market value at this date of $18 per share.Retained earnings amounted to $900,000.Give the entry to record the stock dividend (the shares wer issued), assuming:
The 5,000 shares represented 10% of the previously outstanding shares.