The only stockholders' equity items of Jody Company at June 30, 1998, are:

On August 4, 1998, a 4\% cash dividend was declared, payable on September 3. On November 16 , a \(10 \%\) stock dividend was declared. The shares were issued on December 1. The market value of the common stock was \(\$ 360\) per share on November 16 and \(\$ 354\) per share on December 1 .
Prepare journal entries for these dividend transactions.

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Stockholders' equity: Paid-in capital: Common stock-$200 par value, 10,000 shares authorized, 6,000 shares issued and outstanding $1,200,000 Paid-in capital in excess of par value. 480,000 Total paid-in capital $1,680,000 Retained earnings Total stockholders' equity 480,000 $2,160,000