A corporation had 40,000 shares of $10 par value common stock outstanding on August 1. Later that day, the board of directors declared a 9% stock dividend when the market value of each share was $72. The entry to record this dividend is:
E) No entry is made until the stock is issued

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The Answer of A corporation had 40,000 shares of $10 par value common stock outstanding on August 1. Later that day, the board of directors declared a 9% stock dividend when the market value of each share was $72. The entry to record this dividend is:
E) No entry is made until the stock is issued

A Corporation Had 40,000 Shares of $10 Par Value Common