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The shareholders' equity of Core Technologies Company on June 30, 2017, included the following: Common stock, $1 par; authorized, 6 million shares; issued and outstanding,
The shareholders' equity of Core Technologies Company on June 30, 2017, included the following: Common stock, $1 par; authorized, 6 million shares; issued and outstanding, 2 million shares Paid-in capital-excess of par Retained earnings $ 2,000,000 8,000,000 21,000,000 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 $38 on April 1, 2018, and $48 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. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete the below table to calculate the stock dividend Stock Dividend Number of outstanding shares Stock dividend percentage (%) 2,000,000 10% Complete this question by entering your answers in the tabs below. 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 x Market Value April 1 Value of stock dividend 2,000,000 10% 200,000 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.) View transaction list Journal entry worksheet Record the declaration of the stock dividend. Note: Enter debits before credits. General Journal Debit Credit Date April 01, 2018 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.) View transaction list Journal entry worksheet
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