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On November 27, the board of directors of India Star Company declared a $.50 per share dividend. The dividend is payable on December 24th to
On November 27, the board of directors of India Star Company declared a $.50 per share dividend. The dividend is payable on December 24th to stockholders of record on December 7th. India Star has 25,000 shares of $1 par common stock outstanding on November 27th. Journalize the entries needed for November 27, December 7 and December 24. On October 10, the board of directors of Pitcher Corporation declared a 10% stock dividend. On October 10, the company had 10,000 shares of $1 par common stock issued and outstanding with a market price of $15 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed on October 10, October 25 and October 31
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