Belkin Incorporated has 100,000 shares of $3 par value common stock outstanding. Belkin declares a 40%stock dividend on March 2 when the stock's market value is $72 per share.Prepare the journal entry for declaration of the stock dividend.View transaction listJournal entry worksheet>1Record the declaration of a 40% stock dividend.Note: Enter debits before credits.DateMarch 02General JournalDebitCreditView general journalRecord entryClear entry

Journal entries to record the declaration of the stock dividend are as follows:Resultant values:

Answered: Belkin Incorporated has 100,000 shares…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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