Prepare entries declaration and issuance of stock dividend


Problem

Bonita Corporation has 57,000 shares of $13 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $19. The dividend shares are issued on December 31.

• Prepare the entries for the declaration and issuance of the stock dividend.

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Accounting Basics: Prepare entries declaration and issuance of stock dividend
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