Reference no: EM131722368

Question - Deborah Houston Company had 80,000 shares of $2 Par common stock outstanding on 6/1/2016 and was holding 7000 shares as Treasury Stock on 6/1/2016(when market value of the stock was $7 per share).  On 6/15/2016 (market value of stock was still $7 per share) the company declared and distributed a 15% stock dividend.  Then, on July 1, 2016 the company declared a cash dividend of $.18 per share payable on August 1, 2016 to shareholders of record on July 18, 2016 (July 18, 2016 is the date of record).  Provide journal entries for: 

a. Date of declaration of the stock dividend on 6/15/2016

b. Date of declaration of the cash dividend (7/1/2016)

c. Date of record for the cash dividend 7/18/2016