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need help with both QS 11-7 (Algo) Accounting for small stock dividends LO P2 Epic Incorporated has 11.400 shares of $2 par value common stock
need help with both
QS 11-7 (Algo) Accounting for small stock dividends LO P2 Epic Incorporated has 11.400 shares of $2 par value common stock outstanding. Epic declares a 19% stock dividend on July 1 when the stock's market value is $22 per share. The stock dividend is distributed on July 20. Prepare Journal entries for (a) declaration and (b) distribution of the stock dividend, View transaction list Journal entry worksheet 1 Record the declaration of a 19% stock dividend Note: Enter debits before credits Date Credit Debit 47,652 July 01 General Journal Retained camings Common stock dividend distributable Pad.in capital in excess of par value common stock 4,332 Journal entry worksheet Record the distribution of 19% stock dividend. Note: Enter debits before credits. Debit Date July 20 General Journal Common stock dividend distributable Credit 4,332 Journal entry worksheet Record the declaration of a 19% stock dividend, Note: Enter debits before credits. Credit Date July 01 Debit 47,652 General Journal Retained eamings Common stock dividend distributable Paid-in capital in excess of par value, common stock 4,332 Step by Step Solution
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