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Belleview Water Sports has 10,000 shares of $1 par value common stock outstanding. Belleview distributes a 10% stock dividend when the market value of its stock is $22 per share. Read the requirements Requirement 1. Journalize Belleview's declaration of the stock dividend on June 15 and distribution on June 30. (Check your spelling carefully and do not abbreviate. Be sure to include the type of stock in the account names where applicable and enter par values as whole dollar amounts. Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by journalizing the declaration of the stock dividend on June 15. Date Accounts and Explanation Debit Credit Jun. 15 X - 1 Requirements 1. Journalize Belleview's declaration of the stock dividend on June 15 and distribution on June 30. 2. What is the overall effect of the stock dividend on Belleview's total assets? 3. What is the overall effect on total stockholders' equity? Print Done