Landess Corporation currently has 120,000 shares outstanding of $1 par value common stock. The stock was originally issued for $12 per share. On March 15, the board of directors declares a 10% stock dividend when the stock is selling for $16 per share. Prepare the journal entry to record the stock dividend.
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Question

Landess Corporation currently has 120,000 shares outstanding of $1 par value common stock. The stock was originally issued for $12 per share. On March 15, the board of directors declares a 10% stock dividend when the stock is selling for $16 per share. Prepare the journal entry to record the stock dividend.
 $$\begin{array} { | l | l | l | } 
\hline \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad&\quad\quad\quad\quad &\quad\quad\quad \
\hline & & \
\hline
\end{array}$$

Quizplus · Accepted Answer

The Answer of Landess Corporation currently has 120,000 shares outstanding of $1 par value common stock. The stock was originally issued for $12 per share. On March 15, the board of directors declares a 10% stock dividend when the stock is selling for $16 per share. Prepare the journal entry to record the stock dividend.
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\hline \quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad\quad&\quad\quad\quad\quad &\quad\quad\quad \
\hline & & \
\hline
\end{array}$$

Landess Corporation Currently Has 120,000 Shares Outstanding of $1 Par