Question

Self- Defense Schools, Inc. is authorized to issue 200,000 shares of $4 par common stock. The company issued 73,000 shares at $6 per share. When the market price of common stock was $8 per share. Self-Defense declared and distributed a 10% stock dividend. Later. Self-Defense declared and paid a $0.60 per share cash dividend Read the requirements Requirement 1. Journalize the declaration and the distribution of the stock dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) First, journalize the declaration of the stock dividend Date Accounts and Explanation Debit Credit Now journalize the distribution of the stock dividend Date Accounts and Explanation Debit Credit Requirement 2. Journalize the declaration and payment of the cash dividend. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing the declaration of the cash dividend Date Accounts and Explanation Debit Credit Now journalize the payment of the cash dividend Date Accounts and Explanation Debit Credit

Answer 1