S13-9 Journalizing a small stock dividendLearning Objective 4Element Water Sports has 13,000 shares of $1 par value common stockoutstanding. Element distributes a 5% stock dividend when the market value ofits stock is $15 per share.Requirements1. Journalize Element's declaration of the stock dividend on August 15 anddistribution on August 31.2. What is the overall effect of the stock dividend on Element's total assets?3. What is the overall effect on total stockholders' equity?

A stock dividend refers to a distribution of additional shares of a company's stock to its existing…

Answered: Element Water Sports has 13,000 shares…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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