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On May 31, Mason Corporation Has the Following Stockholders' Equity

Question 43

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On May 31, Mason Corporation has the following stockholders' equity:
Common Stock, $10 par value, 9,000 shares On May 31, Mason Corporation has the following stockholders' equity: Common Stock, $10 par value, 9,000 shares The board of directors declared a 10% stock dividend on June 5 to the stockholders of record on June 15. The stock is to be distributed on June 30. On the date of declaration, the stock had a market value of $13 per share. Prepare the appropriate journal entries for these transactions.
The board of directors declared a 10% stock dividend on June 5 to the stockholders of record on June 15. The stock is to be distributed on June 30. On the date of declaration, the stock had a market value of $13 per share. Prepare the appropriate journal entries for these transactions.

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