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Kingbird, Inc. has 43,000 shares of $10 par value common stock outstanding. It declares a...

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Accounting

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Kingbird, Inc. has 43,000 shares of $10 par value common stock outstanding. It declares a 10% stock dividend on December 1 when the market price per share is $16. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (Record journal entries in the order presented in the problem. Credit account titles 0 for the amounts.) Is required, select "No Entry" for the account titles and enter Date Account Titles and Explanation Debit Dec. 1 stock Dividends 68,800 Common Stock Paid-in Capital in Excess of Par-Common Stock Dec. 31 Common Stock Dividends Distributable Common Stock

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