Question

Entries for Stock Dividends Paris Corporation has 37,000 shares of $40 par common stock outstanding. On June 8, Paris Corporation declared a 3% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $58 per share on June Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Jun. 8 Jul. 13 Aug. 12

Answer 1

Jun 8	Stock Dividends	64380		=37000*3%*58
	Stock Dividends Distributable		44400	=37000*3%*40
	Paid in Capital excess of par-Common stock		19980
Jul 13	NO entry required
	NO entry required
Aug 12	Stock Dividends Distributable	44400
	Common Stock		44400