Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 15% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30.

Richman Corporation has 120.000 shares of $5 par value common stock outstanding. It declared a 15%. stook dividend on June 1 when the market price per share was $12. The shares were issued on June 30 2 Instructions 1- Prepare the necessary entries for the declaration record and payment of the stock dividend 2- List the three dates that are related to dividends and discuss them briefly Solution - declaration entry Accounts Debit Credit Solution - 2-List the three dates that are related to dividends and discuss them briefly 2- 3 Solution - record entry Debic Credit Accounts Solution-payment entry Debit Credit Accounts