List Of Accounts

Cash Common Stock Common Stock Dividend Distributable Computers Dividends Payable No Entry Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Retained Earnings Treasury Stock

Practice Brief Exercise 15-3 Martinez Company has outstanding 986,000 shares of $2 par value common stock. The corporation declares a 6% stock dividend when the fair value of the stock is $41 per share. Prepare the journal entries for Martinez Company for both the date of declaration and the date of distribution. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Declaration Date Distribution Date