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5 years ago
A company originally issued 20,000 shares of $9 par value common stock at $13 per share. The board of directors declares an 9% stock dividend when the market price of the stock is $24 a share. Which of the following is included in the entry to record the declaration of a stock dividend?
A) Stock Dividends is debited for $21,600.
B) Common Stock$9 Par Value is credited for $41,400.
C) Common Stock is credited for $43,200.
D) Stock Dividends is debited for $43,200.
Textbook 
Horngren's Accounting

Horngren's Accounting


Edition: 11th
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#1
5 years ago
 D
Explanation:  D) Stock Dividends (20,000 shares  9%  $24 market price) = $43,200
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