Albertine Industries declared a 10% stock dividend on August 15 to be distributed on September 10 to

Question:

Albertine Industries declared a 10% stock 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 was 50%?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...