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Question 1) Zerizon Inc. holds 6,000 shares of Cable Co. common stock, which it acquired for $25 per share in May of 2020. On June 1, 2020, Zerizon Inc. declares a property dividend of 500 shares of Cable Co. common stock when the shares are selling at $28 per share. Provide the journal entry on June 1, 2020, for the declaration of the property dividend.
Question 2) Wellington Corp. declared a dividend on common stock of $250,000 on May 18, 2020. Wellington announced to shareholders that $175,000 of the dividend amount was a return of capital. Provide the journal entry on May 18, 2020, for the dividend declaration
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