On April 1, 2021, the board of directors of Core Technologies declared a 10% stock dividend...

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On April 1, 2021, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $30 on April 1, 2021, and $40 on June 1, 2021. Common stock, $1 par; authorized, 7 million shares; issued and outstanding, 3 million shares Paid-in capital-excess of par Retained earnings $ 3,000,000 12,000,000 17,000,000 Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete the below table to calculate the stock dividend. Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued Value of stock dividend Journal entry worksheet Record the declaration of the stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit April 01, 2021 Record entry Clear entry View general journal Journal entry worksheet 2 Record the distribution of the stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit June 01, 2021 Record entry Clear entry View general journal On April 1, 2021, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $30 on April 1, 2021, and $40 on June 1, 2021. Common stock, $1 par; authorized, 7 million shares; issued and outstanding, 3 million shares Paid-in capital-excess of par Retained earnings $ 3,000,000 12,000,000 17,000,000 Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend. Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete the below table to calculate the stock dividend. Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued Value of stock dividend Journal entry worksheet Record the declaration of the stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit April 01, 2021 Record entry Clear entry View general journal Journal entry worksheet 2 Record the distribution of the stock dividend. Note: Enter debits before credits. Date General Journal Debit Credit June 01, 2021 Record entry Clear entry View general journal

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Requirement Stock Dividend Answer Percentage Number of outstan... View the full answer