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Journal the entries

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Question - Journal the following entries

April 7:   Declared a 15% stock dividend to common shareholders. The market value of the common stock is $50 per share. The par value is $10. There are 1,000,000 shares of common stock outstanding.

April 29:  Issued a stock dividend in settlement of the dividend declared on April 7.

November 3:  Declared a 40% stock dividend to common shareholders. The market value of the common stock is $45 per share. The par value is $10. There are 1,200,000 shares of common stock outstanding.

November 24: Issued a stock dividend in settlement of the dividend declared on November 3.

Reference no: EM131692085

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