Question

Part a On October 1, 2021, Helmsmith Corporation declared and issued a 10% common stock dividend....

Part a
On October 1, 2021, Helmsmith Corporation declared and issued a 10% common stock dividend. Before this date,
Helmsmith had 80,000 shares of $1 par common stock outstanding. The market price of Helmsmith Corporation’s
common stock on the date of declaration was $10 per share.
Required
Show Helmsmith’s journal entries to record the common stock dividend on:
1) The date of declaration
2) The date of record
3) The date of distribution/payment

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