Belleview Bancshares has $34,000$ shares of $$4$ par value common stock outstanding. Suppose Belleview declares and distributes an $8\%$ stock dividend when the market value of its stock is $$24$

per share.

Journalize Belleview's declaration and distribution of the stock dividend on May $11.$ An explanation is not required.

What was the overall effect of the stock dividend on Belleview's total assets? On total liabilities? On total stockholders' equity?

Journalize Belleview's declaration and distribution of the stock dividend on May $11.$ An explanation is not required. $($Record debits first, then credits. Exclude explanations from any

journal entries.$)$

Journal Entry