Ayayai Corp. has 210,000 shares of $10 par value common stock outstanding. It declares a 11% stock dividend on December 1 whenthe market price per share is $15. The dividend shares are issued on December 31.Prepare the entries for the declaration and distribution of the stock dividend. (Record journal entries in the order presented in the problem.List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If noentry is required, select "No Entry" for the account titles and enter O for the amounts.)DateAccount Titles and ExplanationDebitCredit

Step 1: Preparation of journal entries.DateAccount titles and explanationsDebitCreditDec-01Stock…

Answered: Ayayai Corp. has 210,000 shares of $10…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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