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The shareholders' equity section of the Walsh Corporation at December 3 1 of the prior year is presented below. Walsh Company Shareholders' Equity Section -
The shareholders' equity section of the Walsh Corporation at December of the prior year is presented below.
Walsh Company
Shareholders' Equity Section December prior year
Paidin Capital:
Common stock, $ par; authorized, shares; issued and outstanding, shares $
Paidin capital excess of par
Total paidin capital $
Retained earnings
Total shareholders' equity $
On June of the current year, the board of directors of Walsh Corporation declared a stock dividend on common shares, to be distributed on September The market price of Walsh's common stock was $ on June of the current year, and $ on June
Required:
Prepare the journal entries to record the declaration and distribution of the stock dividend.
Prepare the shareholders' equity section of the yearend balance sheet.
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