Question: On December 31 the Stockholders Equity section of Collins Auto

On December 31, the Stockholders’ Equity section of Collins Auto Body Repair, Inc.’s balance sheet is as follows:


On March 6 of the following year, when the stock was selling at $ 38 per share, the board of directors declared a 20 percent stock dividend, distributable on March 28 to stockholders of record on March 22. Give the entries to record the declaration and distribution of the stock dividend assuming that it is a small stockdividend.
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  • CreatedOctober 21, 2014
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