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please no bad penmanship The shareholders' equity of Danex Company on June 30, year 1, included the following: $ 3,130,000 Common stock, $1 par; authorized,
please no bad penmanship
The shareholders' equity of Danex Company on June 30, year 1, included the following: $ 3,130,000 Common stock, $1 par; authorized, 8.05 million shares; issued and outstanding, 3.13 million shares Paid-in capital -excess of par Retained earnings 12,110,000 14,100,000 On April 1, year 2, the board of directors of Danex declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Danex's common stock was $22 on April 1, year 2, and $45 on June 1, year 2 Required: Prepare the journal entry to record the declaration and distribution of the stock dividend on the declaration date Step by Step Solution
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