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On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend...

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Accounting

On June 13, the board of directors of Siewert Inc. declared a 5% stock dividend on its 40 million, $1 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $15 on June 13. Complete the below table to calculate the stock dividend. Prepare a journal entry that summarizes the declaration and distribution of the stock dividend.

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image Complete this question by entering your answers in the tabs below. Complete the below table to calculate the stock dividend. (Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Journal entry worksheet 1 Record the sale of 2 million treasury shares at $17 per share. Note: Enter debits before credits

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