- Your answer is partially correct. Concord Corporation has 41,500 shares of $12 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 1 Retained Earnings 112,050 Common Stock Dividends Distributable 74,700 Paid-in Capital in Excess of Par-Common Stock 37,350 Dec. 31 Common Stock Dividends Distributable 74,700 Common Stock 74,700 - Your answer is partially correct. On October 10, the board of directors of Pinto Corporation declared a 10% stock dividend. On October 10, the company had 10,000 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit Credit Date Account Titles and Explanation Oct. 10 Retained Earnings 16000 Common Stock Dividends Distributable 1000 Paid-in Capital in Excess of Par-Common Stock 15000 Oct. 31 Common Stock Dividends Distributable 1000 1000