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On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be
On June 13, the board of directors of Siewert Inc. declared a 6% stock dividend on its 50 million, $2 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $33 on June 13. Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. X Answer is not complete. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Prepare a journal entry that summarizes the declaration and distribution of the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) No Event General Journal Debit Credit 1 1 99 6 Retained earnings Common stock Paid-in capital - excess of par Common stock x
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