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The shareholders' equity of Core Technologies Company on June 30, 2020, included the following: Common stock, $1 par; authorized, 9 million shares; issued and outstanding, 4 million shares Paid-in capital-excess of par Retained earnings $ 4,000,000 16,000,000 18,000,000 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 $32 on April 1, 2021, and $42 on June 1, 2021. 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.
Complete this question by entering your answers in the tabs below. Stock Dividend General Journal Complete the below table to calculate the stock dividend. 4,000,000 100 % Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued x Market value on April 1 Value of stock dividend 400,000 $ 0 < Stock Dividend General Journal >
Journal entry worksheet 1 2 > Record the declaration of the stock dividend. Note: Enter debits before credits. General Journal Debit Credit Date April 01, 2021 Record entry Clear entry View general journal
Journal entry worksheet < 1 2 > N 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