Entries for stock dividends a $5\%$ stock dividend when the market price of the stock was $$18$ a share. Healthy Life reported no income or loss for the current year.

If no entry is required, select $"$No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

a$1.$ Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value.

Stock Dividends $$

Stock Dividends Distributable

Paid$-$In Capital in Excess of Par$-$Common Stock

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a$1.$ Recall that a stock dividend affects only stockholders' equity.

a$2.$ Journalize the entry to record the issuance of the stock certificates.

Stock Dividends Distributable

Common Stock