Blossom Hovercraft Inc. reported the following shareholders' equity:
Preferred shares, shares authorized,
$
shares issued and outstanding
Common shares, unlimited shares authorized,
shares issued and outstanding
Total share capital
Retained earnings
$
Total shareholders' equity
The board of directors declared a common stock dividend when the market price of the shares was $ per share. Prepare the necessary journal entries to record the declaration and distribution of the stock dividend. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select No Entry for the account titles and enter O for the amounts.
Account Titles and Explanation
Debit
Credit
To record declaration of stock dividend.
To record distribution of stock dividend.
What effect did the stock dividend have on:
L total assets
total liabilities
total share capital
iv total shareholders' equity
