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Record the stock dividend.

Record the stock dividend.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On March 31, the board of directors of Shoeboxes, Inc. declares a 100% stock dividend on its 100,000, $0.02 par value, common shares. The market price of Shoeboxes common stock is $23 on March 31. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the fir account field.) View transaction list Journal entry worksheet 1 Record the stock dividend. Note: Enter debits before credits. Date Mar 31 Record entry General Journal Retained Earnings Dividends Clear entry Debit 2,000 Credit 2,000 View general journal
Transcribed Image Text:On March 31, the board of directors of Shoeboxes, Inc. declares a 100% stock dividend on its 100,000, $0.02 par value, common shares. The market price of Shoeboxes common stock is $23 on March 31. Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the fir account field.) View transaction list Journal entry worksheet 1 Record the stock dividend. Note: Enter debits before credits. Date Mar 31 Record entry General Journal Retained Earnings Dividends Clear entry Debit 2,000 Credit 2,000 View general journal
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