Managerial Accounting: E13-36 On October 15, Lawlor Lawn Service declares and distributes
Managerial Accounting E13-36 Journalizing stock dividends This exercise continues the Lawlor Lawn Service, Inc., situation from Exercise 12-44 of Chapter 12. On October 15, Lawlor Lawn Service declares and distributes a 10% stock dividend to all common shareholders of record on October 15 when the market price per common share is $5. Lawlor has 100 shares of common stock outstanding on the date of record.
Requirements 1. Is this a small or large stock dividend? 2. Journalize the entries related to the dividend.