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Recording Stock Dividends and Stock Splits The records of Dixie Corporation showed the following balances on November 1,2020. The fair value of its stock is
Recording Stock Dividends and Stock Splits The records of Dixie Corporation showed the following balances on November 1,2020. The fair value of its stock is $18 per share. Prepare journal entries for the following three separate scenarios. a. The company declares (November 1, 2020) and issues (November 20, 2020) a 10\% stock dividend. c. The company declares (November 1, 2020) and issues (November 20, 2020) a stock split effected in the form of a 100\% stock dividend. - Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. - Note: If a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero)
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