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Question - Entries for Stock Dividends
Zurich Corporation has 13,000 shares of $90 par common stock outstanding. On June 8, Zurich Corporation declared a 4% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $124 per share on June 8.
Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank.
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