Stock Dividends: Large stock dividends (>20% to 25% of outstanding shares).

Requirement: Make all necessary entries for the follow scenario:

Crimson Corporation has 50,000 shares of $10 par value common stock outstanding. The company declares a 10% stock dividend on December 3rd. On the date of declaration, the stock has a fair market value of $25 per share.

Common Stock Dividends Distributable Common Stock