Question

Crystal Corporation has the following information regarding its common stock:
$10 par, with 500,000 shares authorized, 213,000 shares issued, and 183,700 shares out- standing.
On August 22, 2011, Crystal declared and paid a 15 percent stock dividend when the market price of the common stock was $30 per share.

Required:
1. Prepare the journal entries to record declaration and payment of this stock dividend.
2. Prepare the journal entries to record declaration and payment assuming it was a 30 percent stock dividend.


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  • CreatedSeptember 22, 2015
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