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Please help with the following two part question....

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Please help with the following two part question. The shareholders? equity of Core Technologies Company on June 30, 2010, included the following: Common stock, $1 par; authorized, 8 million shares; issued and outstanding, 3 million shares $ 3,000,000 Paid-in capital?excess of par 12,000,000 Retained earnings 14,000,000 On April 1, 2011, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies? common stock was $30 on April 1, 2011, and $40 on June 1, 2011. Required: Prepare the journal entry to record the distribution of the stock dividend on the declaration date. (Enter your answers in dollars not in millions. Omit the "$" sign in your response.) April 1, 2011 Retained Earnings (debit) = ? Paid in capital excess of par (credit) = ? Commons stock dividend distributable (credit) = ? June 1, 2011 Common stock dividend distributable (debit) = ? Common stock (credit) = ?

 

Paper#4587 | Written in 18-Jul-2015

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