Homework Answers
| Number of shares outstanding | 92000 |
| Number stock dividends issued (92,000*10%) | 9200 |
| Market value per share | $ 13 |
| Value of stock dividend ($13*9,200) | $ 119,600 |
Journal entry will be:
| Debit stock dividend | $ 119,600 | |
| Credit Common stock dividend distributable (9,200*$10) | $ 92,000 | |
| Credit Paid in capital in excess of par | $ 27,600 |
Answer is A. Debit stock dividend for $119,600
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