Question

Kirk Corporation had the following amounts in equity before issuing its annual dividend:
Kirk has decided to issue a 5% stock dividend simultaneously with a $1 per share cash dividend. The date of declaration is November 12, and the payment date is November 29.
Required
Prepare all journal entries necessary to record the declaration and payment of dividends. Assume that the stock was trading for $10 on the date of declaration and $12 on the date of payment. Also, assume the cash dividends were not paid on the additional shares of stock from the stock dividend.


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  • CreatedJuly 16, 2015
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