Question
Question 1 On June 30, the board of directors of Sandals, Incorporated, declares and issues a 100% stock dividend on its 14,000, $1 par, common
Question 1
On June 30, the board of directors of Sandals, Incorporated, declares and issues a 100% stock dividend on its 14,000, $1 par, common shares. The market price of Sandals common stock is $19 on June 30.
Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Record the stock dividend.
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Question 2
Divine Apparel has 3,700 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.
Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Record the entry on the date of record.
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Record the payment of cash dividends.
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