Laski Inc. has 580,000 shares of $2 par value common stock outstanding. On 11/15/23, the company declared a 4% stock dividend, to be distributed on 01/10/24. On the date of declaration, the market value of the stock was $35 per share, while it was $33 on the date of distribution.

Record the journal entries for both the dividend declaration on 11/15/23 and the distribution of the dividend on 01/10/24.

Answer rating: 100% (QA)

Here are the journal entries for the dividend declaration on 111523 and the distribution of the divi... View the full answer