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22 On September 15, 2021, the Scottie Company board of directors declared a 12% stock dividend on common shares. The shares are to be distributed
22 On September 15, 2021, the Scottie Company board of directors declared a 12% stock dividend on common shares. The shares are to be distributed on October 10, 2021 to shareholders of record on October 1, 2021 The market price per share on the date of declaration was $25.0 while the market price on the date of distribution was $270. The common stock has a par of $5 per share and there were 1500,000 shares outstanding prior to the declaration of the stock dividend. Required: Prepare any necessary Journal entries to record the above transactions. Of no entry is required for a transaction/event, select "No Journal entry required in the first account field.) ( 8 10 View transaction ist Journal entry worksheet
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