On October 10, the board of directors of Larkspur Corporation declared a 10% stock dividend. On October 10, the company had 12,400 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend. (Credit account titles are automatically 0 indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
On October 10, the board of directors of Larkspur Corporation declared a 10% stock dividend. On October 10, the company had 12,400 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be distributed on October 31 to shareholders of record on October 25. Journalize the entries needed for the declaration and distribution of the stock dividend. (Credit account titles are automatically 0 indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On October 10, the board of directors of Larkspur Corporation declared a 10% stock dividend. On October 10, the company had
12,400 shares of $1 par common stock issued and outstanding with a market price of $16 per share. The stock dividend will be
distributed on October 31 to shareholders of record on October 25.
Journalize the entries needed for the declaration and distribution of the stock dividend. (Credit account titles are automatically
indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and
enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the
problem.)
Date
◆
#
Account Titles and Explanation
eTextbook and Media
Debit
Credit
S
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