Common Stock-$10 par, 500 shares authorized, 150 shares issued and outstanding $1,500 Paid-in capital in excess of par, Common Stock Retained earnings Total May 1 Distributed the stock dividend declared on March 31. 1,000 4,000 $6.500 Dec. 1 Declared a 40% stock dividend. The market value of the stock is $25 per share. Dec. 31 Distributed the stock dividend declared on December 1. General Journal. Debit Credit