Entries for Stock Dividends Zurich Corporation has 17,000 shares of $50 par common stock outstanding. On June 8, Zurich Corporation declared a 4% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $69 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. For a compound transaction, if an amount box does not require an entry, leave it blank. If no entry is required, select "No Entry Required" and leave the amount boxes blank. Aug. 2 Stock Dividends Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock Sept. 15 No entry required No entry required Oct. 8 Stock Dividends Distributable Common Stock

Date        Account Title and Description      Debit         Credit

June 8    Stock Dividends                             $46,920

                      Stock Dividends Distributable                  $34,000

                      Paid-in-Capital in Excess of Par                $12,920

                      common stock

               (Being Dividend declared recorded)

July 13      No entry required

                        No entry required

Aug 12.      Stock Dividends Distributable     $34,000

                         Common stock                                       $34,000

                  (Being Dividend declared as par value recorded)

Working Notes:

Stock dividend = 17,000 * 4% * $69 = $46,920

Stock dividend distributable = 17,000 * 4% * $50 = $34,000

Paid in capital in excess of par - Common stock = $46,920 - $34,000 = $12,920

answer; commerce clearing house;

answer; at prices that violate government price regulations;