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 isincluded in the entry to record the declaration of a stock dividend?O Stock Dividends is debited for $20,400.O Stock Dividends is debited for $40,800.O Common Stock is credited for $40,800.O Common Stock-$7 Par Value is credited for $38,760.

Stock Dividend - Stock Dividend is the dividend declared on the shares issued and outstanding.…

Answered: A company originally issued 17,000…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

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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