3 med chp 18 excel

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The shareholders' equity section of the Walsh Corporation at December 31, 2022 is presented below. On June 1,2023 , the board of directors of Walsh Corporation declared a 10% stock dividend on common shares, to be distributed on September 1, 2023. The market price of Walsh's common stock was $24.00 on June 1, 2023, and $26.00 on September 1, 2023. \begin{tabular}{|l|r|} \hline Stock dividend percentage & 10% \\ \hline Market price of Walsh common stock on June 1, 2023 & $24.00 \\ \hline Market price of Walsh common stock on September 1, 2023 & $26.00 \\ \hline \end{tabular} Prepare the appropriate journal entries to record each of the following transactions: 1. On June 1, 2023 the board of directors declared a 10% stock dividend on common shares, to be distributed on September 1, 2023. Record the declaration. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Date General Journal } & & \\ \hline Jun. 1 & & & \\ \cline { 3 - 4 } & & & \\ \hline \end{tabular} 2. On September 1, 2023, the shares were distributed. Record the distribution of the stock dividend. \begin{tabular}{|l|l|r|r|} \hline \multicolumn{2}{|c|}{ Date } & Deneral Journal & \\ \hline Sep. 1 & & & 0 \\ \cline { 3 - 4 } & & & 0 \\ \hline \end{tabular} 3) Prepare the shareholders' equity section of the balance sheet for the Walsh Company at December 31, 2023. Net income for the year was $11,088,000 and dividends totaled $3,880,800