Question: S - F: 1 3 - 9 . Journalizing a small stock dividend ( Learning Objective 4 ) High Intensity Sports, Inc. has 1 2

S-F:13-9. Journalizing a small stock dividend (Learning Objective 4)
High Intensity Sports, Inc. has 12,000 shares of $2 par value common stock outstanding. High Intensity Sports, Inc. distributes a 5% stock dividend when the market value of its stock is $22 per share.
Requirements
Journalize High Intensity Sports, Inc.s declaration of the stock dividend on August 15 and distribution on August 31.
What is the overall effect of the stock dividend on High Intensity Sports, Inc.s total assets?
What is the overall effect on total stockholders equity?

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