Jun. 8 Stock Dividends 40,320
Stock Dividends Distributable 25,600
Paid-in Capital in Excess of Par 14,720
Stock Dividends = 16,000 Shares * 4% = 640 Shares, Valued at = 640 Shares * Market Price $63 = $40,320
Stock Dividends Distributable = Stock Dividend Shares * Par Value = 640 Shares * $40 = $25,600
Paid- in Capital in Excess of Par = Stock Dividend Shares * (Market Price – Par Value) = 640 Shares * $23 = $14,720
Jul. 13 No Entry Required
Aug. 12 Stock Dividends Distributable 25,600
Common Stock 25,600
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