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