Recording Stock Dividends, Fractional Shares
Tech Inc. issues a common stock dividend on shares of $ par common stock issued and outstanding on August The market price of its common stock is $ per share. The small stock dividend will be distributed on August to stockholders of record on August
Required
a Record the entry on the date of declaration and the date of distribution.
b Assume that of the stock dividend shares, were whole shares and the remaining were fractional shares making up equivalent whole shares. The company's policy is to pay cash to shareholders for fractional shares. Record the entry on the date of declaration and the date of distribution.
Note: If a line in a journal entry isn't required for the transaction, select NA as the account name and leave the Dr and Cr answers blank zero
tableDateAccount Name,,DrCra Aug. Retained Earnings,var
