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Question 1

On June 30, the board of directors of Sandals, Incorporated, declares and issues a 100% stock dividend on its 14,000, $1 par, common shares. The market price of Sandals common stock is $19 on June 30.

Record the stock dividend. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Record the stock dividend.

	Transaction General Journal Debit Credit June 30

Question 2

Divine Apparel has 3,700 shares of common stock outstanding. On October 1, the company declares a $0.75 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.

Record all transactions on the appropriate dates for cash dividends. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Record the entry on the date of record.

	Date General Journal Debit Credit October 15

Record the payment of cash dividends.

	Date General Journal Debit Credit October 31

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