Stockholders Equity Journal Entries For Questions 45-47, prepare the proper journal entry for the given ___ transaction on your scratch paper. Then, use the pull-down menus to select the proper action for the accounts given to record the transaction.

1. Ace Corporation had 500 shares of $10 par stock outstanding. Ace declared a 10% stock dividend. The market value of the stock was $15 each.

Ace Corporation had 500 shares of $10 par stock outstanding. Ace declared a 10% stock dividend. The market value of the stock was $15 each