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The shareholders' equity of Core Technologies Company on June 30, 2017, included the following Common stock, $1 par; authorized, 8 million shares; issued and outstanding,
The shareholders' equity of Core Technologies Company on June 30, 2017, included the following Common stock, $1 par; authorized, 8 million shares; issued and outstanding, 3 million shares Paid-in capital-excess of par Retained earnings $ 3,000,000 12,000,000 14,000,000 On April 1, 2018, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $30 on April 1, 2018, and $40 on June 1, 2018 Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend Answer is not complete. Complete this question by entering your answers in the tabs below. General Journal Stock Dividend Complete the below table to calculate the stock dividend Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued x Market Value June 1 Value of stock dividend 8
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