Daly corporation has 387000 shares of 10 par value common

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Daly Corporation has 387,000 shares of $10 par value common stock outstanding. It declares a 12% stock dividend on December 1 when the market value per share is $15. The dividend shares are issued on December 31.

Prepare the entries for the declaration and distribution of the stock dividend.Prepare for Dec.1 and Dec.31.

Reference no: EM13571650

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