Boehm Rest Company has 30,000 shares of its $1 par value common stock outstanding. Record in journal

Question:

Boehm Rest Company has 30,000 shares of its $1 outstanding. Record in journal form the following transactions as they relate to the company's common stock:
July 17 Declared a 10 percent stock on to be distributed on August 10 to stockholders of record on July 31. Market value of the stock was $5 per share on this date.
Aug. 10 Distributed the stock declared on July 17.
Sept. 1 Declared a $0.50 per share cash on to be paid on September 16 to stockholders of record on September 10.
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...