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On January 1, Bonita Corporation had 165000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend

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On January 1, Bonita Corporation had 165000 shares of $10 par value common stock outstanding. On June 17, the company declared a 15% stock dividend to stockholders of record on June 20. Market value of the stock was $15 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a Odebit to Stock Dividends for $371250 O credit to Paid-in Capital in Excess of Par for $123750 credito Common Stock for $247500. O debit to Common Stock Dividends Distributable for $371250

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