Question: Declared a cash dividend. ec . 2 0 : Declared a 6 % common stock dividend when the market value of the stock was $

Declared a cash dividend.
ec.20: Declared a 6% common stock dividend when the market value of the stock was $6.00 per share.
\table[[Date,Accounts and Explanation,Debit,Credit],[Dec.20,\table[[Stock Dividends],[Common Stock Dividend Distributable]],90,000,],[,Paid-In Capital in Excess of Par-Common,,30,000],[,,,60,000],[,Declared a 6% stock dividend.,,]]
Dec. 31: Paid the cash dividends.

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