Question: E-F:13-30 Journalizing cash and stock dividends ( Learning Objective 4 ) Self-Defense Schools, Inc. is authorized to issue 200,000 shares of $2 par common stock.

  1. E-F:13-30 Journalizing cash and stock dividends (Learning Objective 4)
  2. Self-Defense Schools, Inc. is authorized to issue 200,000 shares of $2 par common stock. The company issued 73,000 shares at $5 per share. When the market price of common stock was $7 per share, Self-Defense Schools declared and distributed a 14% stock dividend. Later, Self-Defense Schools declared and paid a $0.70 per share cash dividend.
  3. Requirements
    1. 1. Journalize the declaration and the distribution of the stock dividend.

1. Common Stock $20,440

    1. 2. Journalize the declaration and the payment of the cash dividend.

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