QS $11-7($Algo$)$ Accounting for small stock dividends LO P$2$

Epic Incorporated has $11,900$ shares of $$2$ par value common stock outstanding. Epic declares a $24\%$ stock dividend on July $1$ when the stock's market value is $$27$ per share. The stock dividend is distributed on July $20.$

Prepare journal entries for $(a)$ declaration and $(b)$ distribution of the stock dividend.

Journal entry worksheet

$12$

Record the declaration of a $24\%$ stock dividend.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$July $01],[,,,],[,,,],[,,,],[,,,],[,,,]]$