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Beacon Corporation issued a 4 percent stock dividend on 30,500 shares of its $9 par common stock. At the time of the dividendc. Prepare the journal entry to record the stock dividend. (If no entry is required for a transaction/event, select journal eWeaver Corporation had the following stock issued and outstanding at January 1, Year 1: 1. 141,000 shares of $10 par common sb. Prepare general journal entries to record the declaration and payment of the cash dividends. (If no entry is re for a tranThe market value of Yeates Corporations common stock had become excessively high. The stock was currently selling for $320 p

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Answer #1
1) 30500*4%
1220
c) Event General Journal Debit Credit
Stock dividend distributable 10980
common stock 10,980
2) Weaver
Event General Journal Debit Credit
10-Jun Dividends 588,000
Dividends payable 588,000
20-Jun no Entry
1-Jul Dividends payable 588,000
cash 588,000
Retained earnings 588,000
Dividends 588,000
3) number of common shares outstanding 560,000
par value per share after the split 4
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