PotteryPottery ?Schools, Inc. is authorized to issue? 200,000 shares of ?$2 par common stock. The...
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PotteryPottery ?Schools, Inc. is authorized to issue? 200,000 shares of ?$2 par common stock. The company issued 76,000 shares at $4 per share. When the market price of common stock was $6 per? share, PotteryPottery declared and distributed a 10?% stock dividend.? Later, PotteryPottery declared and paid a $0.10 per share cash dividend. Requirements
1. Journalize the declaration and the distribution of the stock dividend.
2. Journalize the declaration and payment of the cash dividend.
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