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Cheyenne Corporation has outstanding 431,000 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the
Cheyenne Corporation has outstanding 431,000 shares of $10 par value common stock. The corporation declares a 10% stock dividend when the fair value of the stock is $68 per share. repare the journal entries for Cheyenne Corporation for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent nanually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
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