Langley corporation has 43600 shares of 12 par value common, Financial Accounting

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Langley corporation has 43600 shares of 12 par value common

Exercise

Langley Corporation has 43,600 shares of $12 par value common stock outstanding. It declares a 10% stock dividend on December 1 when the market value per share is $16. The dividend shares are issued on December 31.

Prepare the entries for the declaration and payment of the stock dividend.

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Financial Accounting: Langley corporation has 43600 shares of 12 par value common

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Financial Accounting: Langley corporation has 43600 shares of 12 par value common

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