Problem 18-6 The shareholders equity of Core Technologies Company on June 30, 2017,included the following:

Common stock, $1 par; authorized, 7 million shares:

Issued and outstanding, 3 million shares $ 3,000,000

Paid-in capital-excess of par 12,000,000

Retained earnings 10,000,000

On April , 2018, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies common stock was $24 on April 1, 2018, and $34 on June 1, 2018.

Required:

Complete the below table to calculate the stock dividend. Prepare the journal entries to record the

Declaration and distribution of the stock dividend.

Stock Dividend
Number of outstanding shares
Stock dividend percentage (%)
Number of shares to be issued
Value of stock dividend	$ 0

Prepare the journal entries to record the declaration and distribution of the stock dividend. (If no entry is required for a transaction/event, type No journal entry required in the first account field.)

Date	General Journal	Debit	Credit
April 01, 2018