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4. Prepare journal entries for each of the following transactions. June 25 Declared a 7% stock dividend to common shareholders. The market value of the

4. Prepare journal entries for each of the following transactions.

June 25 Declared a 7% stock dividend to common shareholders. The market value of the common stock is $14 per share. The par value is $13. There are 60,000 shares of common stock outstanding.

July 1 Issued stock dividend in settlement of dividend declared on June 25.

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4. Prepare journal entries for each of the following transactions. + June 25 Declared a 7% stock dividend to common shareholders. The market value of the common stock is $14 per share. The par value is $13. There are 60,000 shares of common stock outstanding. Issued stock dividend in settlement of dividend declared on June 25. July 1 GENERAL JOURNAL Page 1 Post Ref. Description Debit Date June 25 Credit

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