CHAPTER $20$ QUESTIO $5$ ALL NEEDED INFOR IS THERE

Preparing Entries for Small Stock Dividends Landry Inc. has 26,000 shares of $1 par common stock outstanding. On September 30, Landry declares a 10% stock dividend when the per share. Distribution of the dividend will be on October 15. a. Prepare the journal entry for the declaration of the stock dividend on September 30. b. Prepare the journal entry for the distribution of the stock dividend on October 15. Date a. Sept. 30 b. Oct 15 Check Account Name To record the declaration of the stock dividend. To record the distribution of the stock dividend. Cr. 0 0 o o o ' Cash Equipment Dividends Payable Property Dividends Payable preferred Stock 3Common Stock Common Stock Dividends Distributable Paid-in Capital 'in Excess of ParCommon Stock Paid-in Capitalin, Excess of stock *ld-in Capital' in Excessof Par=preferred Stock Paicl-in CapitalReflfedStock Paid-in Capitaltreasury Stock Retained Earnings Treasury Stock Legal Expense Unrealized Gain or LossInCome i Save Answers