1 Cullumber Corporation has outstanding 405,000 shares of $10 par value common stock The corporation declares a 5 stock dividend when the fair value of the stock is $70 per share Prepare the journal entries for Cullumber Corporation for both the date of declaration and the date of distribution (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Account Titles and Explanation Debit Credit Declaration Date Distribution Date 2 Shamrock Corporation has outstanding 427,000 shares of $10 par value common stock The corporation declares a 100 stock dividend when the fair value of the stock is $71 per share Prepare the journal entries for both the date of declaration and the date of distribution (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Account Titles and Explanation Debit Credit Declaration Date Distribution Date

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1. Cullumber Corporation has outstanding 405,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of

1. Cullumber Corporation has outstanding 405,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of the stock is $70 per share. Prepare the journal entries for Cullumber Corporation for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Account Titles and Explanation	Debit	Credit
Declaration Date



Distribution Date

2. Shamrock Corporation has outstanding 427,000 shares of $10 par value common stock. The corporation declares a 100% stock dividend when the fair value of the stock is $71 per share. Prepare the journal entries for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)