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If Exercise $18-12($Algo$)$ Property dividend $[$LO$18-7]$

ms Moving and Storage, a family$-$owned corporation, declared a property dividend of $500$ shares of GE common stock that Adams purchased in February for $$13,500$ as an investment. GE's shares had a market value of $$25$ per share on the declaration date.

are the journal entried to record the property dividend on the declaration and payment dates.

e: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$\backslash$table$[[,$x$,$Debit,Credit$],[$Record adjustment of stock to fair value.,,$1,],[7,,1],[,],[\backslash$table$[[$Record the journal entry on the declaration date.$],[-]],,],[\backslash$table$[[$Record the journal entry on the payment date.$],[)]],,],[12,500],[,,,],[,,]]$

Prey

$7$ of $10$

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