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    chickydevil Posts: 1, Reputation: 1
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    Nov 16, 2011, 09:10 AM
    Dividends declared adjusting entry ?
    Hi,
    I have a question regarding stock dividends declared(not paid yet).
    Question: Prepare the journal entry if the board of directors declared a 15% stock dividend on the common stock
    Common Stock - $100,000

    Is it done this way ?(This is what I think.)

    Retained Earnings 15000
    Dividends payable 15000

    On date of payment
    Dividends payable 15000
    Common Stock 15000

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