Practice problem

#5 STOCK DIVIDENDS 2 journal entries 10 points 10-Oct The Board of Directors of Pitcher Corp. declared a 10% stock dividend. Par value per share of common stock $1.00 Market price per share of common stock $15.00 Number of shares issued and outstanding at October 10 10,000 The stock dividend will be distributed on October 31. INSTRUCTIONS: Prepare the journal entries for the declaration of the stock dividend and the distribution of the stock dividend. Date Account Title Debit Credit