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

Epic Incorporated has $10,000$ shares of $$2$ par value common stock outstanding. Epic declares a $5\%$ stock dividend on July $1$ when the stock's market value is $$8$ 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

$1$

$2$

Record the declaration of a $5\%$ stock dividend.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$July $01,,,],[,2,,],[,,,],[,,,],[0,",,],[=,,,]]$