November 16, a 10% stock dividend was declared. The shares were issued on Decem- On August 4, 2018, a 4% cash dividend was declared, payable on September 3. On ber 1. The market value of the common stock was $180 per share on November 16 and Prepare journal entries for these dividend transactions. Following are selected transactions of White Corporation: 17. ex operati at it had in cumulates 40%. Pres 31, 2017 $177 per share on December 1. 31,2017 Required 2011 Dec. 31 Problem 13-3 Prepare journal entries for retained earnings appropriation, asset acquisition, and stock dividend (L.O. 2) The board of directors authorized the appropriation of $100,000 of re- tained earnings to provide for the future acquisition of a new plant site and the construction of a new building. (On the last day of each of the next six years, the same action was taken. You need not make entries for these six years.) e Sante nding ows. 2016 Jan. Mar. 2 29 Purchased a new plant site for cash, $200,000. Entered into a contract for construction of a new building, payment to be made within 30 days following completion. 2018 Feb. Mar. 10 Following final inspection and approval of the new building, Dyer Construction Company was paid in full, $1,000,000. 10 The board of directors authorized release of the retained earnings appropriated for the plant site and building. 2 A 5% stock dividend on the 100,000 shares of $100 par value common stock outstanding was declared. The market price on this date was $110 per share. Apr