Help The shareholders equity of Core Technologies Company on June 30, 2017, incl

Question

Help The shareholders equity of Core Technologies Company on June 30, 2017, included the following Connon stock, $1 par: authorized, 7 million shares issued and outst anding, 3 miITion shares Pald-In capi tal-excess of par $3,000,000 12,000,000 16,000,000 Ret ained earnings On April 1, 2018, the board of directors of Core Technologies declared a June 1. The market price of Core Technologies common stock was $36 on April 1, 2018, and $46 on June 1, 2018. Boo k 0% stock dividend on common shares, to be distributed on 6Required Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend. Hint Print Complete this question by entering your answers in the tabs below. Dividend General Journal ferences Complete the below table to calculate the stock dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued Value of stock dividend General Journal

Explanation / Answer

Stock dividend Number of outstanding shares 3,000,000 Stock dividend percentage 10% number of shares to be issued 300000 market price on April 1,2018 36 Value of Stock Dividend 10800000

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