On January 1, 2012, Sheperd Corporation had $1,371,000 of common stock outstanding that was issued at par and retained earnings of $707,900. The company issued 28,900 shares of common stock at par on July 1 and earned net income of $392,900 for the year.
Journalize the declaration of a 17% stock dividend on December 10, 2012, for the following two independent assumptions.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)
| (a) | Par value is $10 and market value is $14. |
| (b) | Par value is $5 and market value is $9. |
This is the question that i am having trouble with. I know the accounts that need to be debited and credited. However, I am having trouble figuring out the numbers.
