The Field, Inc. has $18,000$ shares of $$6$ par value common stock outstanding. The Field, Inc. distributes a $15\%$ stock dividend when the market value of its stock is $$24$ per share.

Read the requirements.

Start by journalizing the declaration of the stock dividend on August $15.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Aug$.15,$Retained Earnings,$64800,],[,$Common Stock Dividend Distributable,,$],[,$Paid$-$In Capital in Excess of Par$-$Common,,$]]$

Requirements

Journalize The Field, Inc.$\text{'}$s declaration of the stock dividend on August $15$ and distribution on August $31.$

What is the overall effect of the stock dividend on The Field, Inc.$\text{'}$s total assets?

What is the overall effect on total stockholders' equity?