Rollins Corporation has 1,000,000 shares of $4 par value common stock authorized,and 375,000 shares issued and outstanding.The stock had a market value of $22 per share when the board of directors declared a stock dividend.Prepare the journal entries to record the declaration and distribution of the stock dividend assuming (
A)a 10% stock dividend was declared and (b)a 60% stock dividend was declared.

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The Answer of Rollins Corporation has 1,000,000 shares of $4 par value common stock authorized,and 375,000 shares issued and outstanding.The stock had a market value of $22 per share when the board of directors declared a stock dividend.Prepare the journal entries to record the declaration and distribution of the stock dividend assuming (
A)a 10% stock dividend was declared and (b)a 60% stock dividend was declared.

Rollins Corporation Has 1,000,000 Shares of $4 Par Value Common