On October 10, the board of directors of Skysong Corporation declared a 10% stock dividend. On October 10, the company ha 12,200 shares of $1 par common stock issued and outstanding with a market price of $15 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 in when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amou all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On October 10, the board of directors of Skysong Corporation declared a 10% stock dividend. On October 10, the company had
12,200 shares of $1 par common stock issued and outstanding with a market price of $15 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 O 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
Transcribed Image Text:On October 10, the board of directors of Skysong Corporation declared a 10% stock dividend. On October 10, the company had 12,200 shares of $1 par common stock issued and outstanding with a market price of $15 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 O 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
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