INSTRUCTIONS: Nutritious Pet Food Company$$s board of directors declares a large stock dividend $(50\%)$ on June $30$ when the stock$$s market value per share is $$30.$ At that time, there are $10,000$ shares of $$1$ par value common stock outstanding $($none held in treasury$).$ What is the journal entry to record the declaration of the dividend?

Treasury Stock

Building Common Stock

Additional Paid$-$in Capital from Common Stock Cash Land

Retained Earnings Common Stock Dividend Distributable Cash Dividends Payable

Preferred Stock Equipment Additional Paid$-$in Capital from Preferred Stock

PLEASE NOTE: For accounts having similar accounting treatment $($DR or CR$),$ you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with $"$$$"$ and commas as needed $($i$.$e$.$ $$12,345).$

Record the following journal entries:

A$.$ Jun. $30-$ Declared a large stock dividend $(50\%)$:

Account Debit Credit

B$.$ Jul. $31-$ Record the stock dividend distribution:

Account Debit Credit