Question: Billy, Inc. had 2 6 8 , 0 0 0 shares of $ 3 . 0 0 par value common stock outstanding as of December

Billy, Inc. had 268,000 shares of $3.00 par value common stock outstanding as of December 15,2020. The company is authorized to issue 1,494,000 common shares.
On December 15,2020, Billy, Inc. declared a 15% stock dividend when the market value for the company's common stock was $6.00 per share. The stock was issued on December 30.
1. Journalize the declaration and distribution of the stock dividend. Billy, Inc. had 268,000 shares of \(\$ 3.00\) par value common stock outstanding as of December 15,2020. The company is authorized to issue \(1,494,000\) common shares.
On December 15,2020, Billy, Inc. declared a 15\% stock dividend when the market value for the company's common stock was \(\$ 6.00\) per share. The stock was issued on December 30.
1. Journalize the declaration and distribution of the stock dividend.
2. How many shares of common stock are outstanding after the dividend?
Billy, Inc. had 2 6 8 , 0 0 0 shares of $ 3 . 0 0

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