S13-10 (similar to) Question Help * Yummy, Inc. had 280,000 shares of $1 par value common stock issued and outstanding as of July 15, 2018. The company is authorized to issue 1,100,000 common shares. On July 15, 2018, Yummy declared a 50% stock dividend when the market value for Yummy's common stock was $7 per share. The stock was issued on Jul 30 Read the requirements Requirement 1. Journalize the declaration and distribution of the stock dividend (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Start by journalizing the declaration of the stock dividend Date Accounts and Explanation DebitCredit Jul 15 Retained Earnings Common Stock-$1 Par Value Paid-In Capital in Excess of Par-Common Declared a 50% stock dividend Choose from any list or enter any number in the input fields and then click Check Answer Check Answer Clear All remaining