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A company originally issued 13,000 shares of $6 par value common stock at $12 per share. The board ...

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A company originally issued 13,000 shares of $6 par value common stock at $12 per share. The board ...

A company originally issued 13,000 shares of $6 par value common stock at $12 per share. The board of directors declares a 12% stock dividend when the market price of the stock is $22 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 $18,720.
B) Paid-In Capital in Excess of ParCommon is credited for $18,720.
C) Stock Dividends is credited for $34,320.
D) Stock Dividends is debited for $34,320.

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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I just realized you had posted this! Thanks so much

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