Accounting College Level 1: SHareholder\'s Equity Golden Valley Corporation has

Question

Accounting College Level 1: SHareholder's Equity

Golden Valley Corporation has 90,300 common shares that have been issued. It declares a 4% stock dividend on December 1 to shareholders of record on December 20. The shares are issued on January 10. The share price is $15 on December 1, $14.50 on December 20, and $14.75 on January 10. Prepare the entries on the appropriate dates to record the stock dividend.

DATE...... ACCOUNT TITLE/explanation .......Debit............. Credit

a) Dec. 1... Dividends Declared ........................67690

................Stock Dividend Distributable..................................... 67690

b) Jan.10 ...____________________ .............______

....................._______________________...................................... _______

Please solve part b) transaction.

please show your work

Explanation / Answer

Date Account title Debit Credit 1-Dec Dividend Declared (90300*4%*15) 54180     Stock Dividend Distributable 54180 10-Jan Stock Dividend distributable (90300*4%*15) 54180    Common Shares 54180

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