On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its

Question:

On June 13, the board of directors of Siewert Inc. declared a 5% stock on its 60 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert was $25 on June 13. Prepare the journal entry to record the stock 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...