Albertine Industries declared a 10 stock dividend on August 15
Albertine Industries declared a 10% stock dividend on August 15 to be distributed on September 10 to stockholders of record on August 28. On August 15, Albertine had 3,000,000 shares of $1 par stock outstanding, and its stock was trading at $7 per share.
Required
Prepare the August 15 entry for Albertine. How would the entry change if the stock dividend was 50%?
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