5 of 10 This question: 7 point(s) possible Submit On May 1, Centerville Software Ltd. has 90,000 common shares issued and outstanding. Suppose Centerville distributes a 11% stock dividend on May 11 when the market price (fair value) c shares is $14.00 per share. 1. Journalize Centerville's declaration of the shares dividend. An explanation is not required. 2. What was the overall effect of the stock dividend on Centerville's total assets? What about on its total liabilities and its total shareholders' equity? Requirement 1. Journalize Centerville's declaration of the shares dividend. An explanation is not required. (Record debits first, then credits. Explanations are not required.) Date: May 11 Accounts Debit Credit Requirement 2. What was the overall effect of the stock dividend on Centerville's total assets? What about on its total liabilities and its total shareholders' equity? The stock dividends have The stock dividends have The stock dividends have on total assets. on total liabilities on total shareholders' equity. MacBook Pro Time Remaining: 02:21:36 Next