Question: 1. Our company declared and distributed a 50% stock divedend on 12,000,000 shares of $1 par value common stock. The market value on the date of declaration was $20 per share. Prepare the entry to record this dividend.
2. Our company declared and distributed a 10% stock dividend on 12,000,000 shares of $1 par value common stock . The market value on the date of declaration was $20 per share. Prepare the entry to record this dividend.