A company originally issued 17,000 shares of $7 par value common stock at $13 per share. The board of directors declares a 12% stock dividend when the market price of the stock is $20 a share. Which of the following is included in the entry to record the declaration of a stock dividend? O Stock Dividends is debited for $20,400. O Stock Dividends debited for $40,800. O Common Stock is credited for $40,800. O Common Stock-$7 Par Value is credited for $38,760.
A company originally issued 17,000 shares of $7 par value common stock at $13 per share. The board of directors declares a 12% stock dividend when the market price of the stock is $20 a share. Which of the following is included in the entry to record the declaration of a stock dividend? O Stock Dividends is debited for $20,400. O Stock Dividends debited for $40,800. O Common Stock is credited for $40,800. O Common Stock-$7 Par Value is credited for $38,760.
Chapter14: Corporation Accounting
Section: Chapter Questions
Problem 10MC: A company issued 40 shares of $1 par value common stock for $5,000. The journal entry to record the...
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