Preparing Entries for Stock Split Effected in the Form of a Dividend Landry Inc. has 10,000 shares of $1 par common stock outstanding. On September 30, Landry declares a stock split effected in the form of a 100% stock dividend when the fair value of its common stock is $30 per share. Distribution of the dividend will be on October 15. a. Prepare the journal entry for the declaration of the stock dividend on September 30. Date Account Name Dr. Cr. Sept. 30 b. Prepare the journal entry for the distribution of the stock dividend on October 15. Date Account Name Dr. Cr. Oct. 15 Previous Save Answers + IKT Next >

Preparing Entries for Stock Split Effected in the Form of a Dividend Landry Inc. has 10,000 shares of $1 par common stock outstanding. On September 30, Landry declares a stock split effected in the form of a 100% stock dividend when the fair value of its common stock is $30 per share. Distribution of the dividend will be on October 15. a. Prepare the journal entry for the declaration of the stock dividend on September 30. b. Prepare the journal entry for the distribution of the stock dividend on October 15