The shareholders equity of Core Technologies Company on June 30, 2020, included the following:

Common stock, $1 par; authorized, 9 million shares; issued and outstanding, 4 million shares	$	4,000,000
Paid-in capitalexcess of par		16,000,000
Retained earnings		22,000,000

On April 1, 2021, 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 $40 on April 1, 2021, and $50 on June 1, 2021. Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend.

• Stock Dividend
• General Journal

Complete the below table to calculate the stock dividend.

Stock Dividend
Number of outstanding shares
Stock dividend percentage (%)		%
Number of shares to be issued
Value of stock dividend

Prepare the journal entries to record the declaration and distribution of the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet

• Record the declaration of the stock dividend.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
April 01, 2021