**Exercise 18-19 (Algo) Stock Dividend [LO18-8]**The shareholders’ equity of Core Technologies Company on June 30, 2023, included the following:- **Common stock**, $1 par; authorized, 5 million shares; issued and outstanding, 1 million shares: $1,000,000- **Paid-in capital—excess of par**: $4,000,000- **Retained earnings**: $8,000,000On April 1, 2024, 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 $20 on April 1, 2024, and $30 on June 1, 2024.**Required:**Prepare the journal entries to record the declaration and distribution of the stock dividend.**Note:** If no entry is required for a transaction/event, select "No journal entry required" in the first account field. **Exercise 18-13 (Algo) Treasury Stock; Weighted-Average and FIFO Cost [LO18-5]**At December 31, 2023, the balance sheet of Meca International included the following shareholders' equity accounts:**Shareholders’ Equity ($ in millions)**- Common stock, 85 million shares at $1 par: $85 million- Paid-in capital—excess of par: $450 million- Retained earnings: $560 million**Required:**Assuming that Meca International views its share buybacks as treasury stock, record the appropriate journal entry for each of the following transactions:**Note:** If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).1. On February 12, 2024, Meca reacquired 2 million common shares at $15 per share.2. On June 9, 2025, Meca reacquired 3 million common shares at $10 per share.3. On May 25, 2026, Meca sold 3 million treasury shares at $18 per share. Determine cost as the weighted-average cost of treasury shares.4. For the previous transaction, assume Meca determines the cost of treasury shares by the FIFO method.

“Since you have asked multiple question, we will solve the first question for you. If you want any specific question to be solved then please specify the question number or post only that question.”Journal entries are the primary reporting of the business transactions in the books of accounts. These are posted using double-entry system of accounting.DateAccounts titleDebitCredit1-AprStock dividend $ 2,000,000 Common stock dividend distributable $ 100,000 Paid in capital in excess of par $ 1,900,0001-JunCommon stock dividend distributable $ 100,000 Common stock $ 100,000