Waterway Corporation has 41,500 shares of $10 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $16. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Waterway Corporation has 41,500 shares of $10 par value common stock outstanding. It declares a 15% stock dividend on December
1 when the market price per share is $16. The dividend shares are issued on December 31.
Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem.
Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for
the account titles and enter o for the amounts.)
Date
Account Titles and Explanation
I
Debit
Credit
F
Transcribed Image Text:Waterway Corporation has 41,500 shares of $10 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $16. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation I Debit Credit F
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