Bonneau Corporation has 100,000 shares of $10 par common stock outstanding. On July 31, the Board of Directors declared a 5% stock dividend to be issued on Aug 31 to stockholders of record August 15. The market price of the stock was $35 a share on July 31. Journalize the entries required on July 31, Aug 15, and Aug 31.

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10EA: Nutritious Pet Food Companys board of directors declares a cash dividend of $1.00 per common share...
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Bonneau Corporation has 100,000 shares of $10 par common stock
outstanding. On July 31, the Board of Directors declared a 5% stock dividend to be issued on
Aug 31 to stockholders of record August 15. The market price of the stock was $35 a share on
July 31. Journalize the entries required on July 31, Aug 15, and Aug 31.

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