View Policies Current Attempt in Progress On January 1, 2022, Kingbird, Inc. had $1,490,000 of common stock outstanding that was issued at par and retained earnings of $760,000. The company issued 36,000 shares of common stock at par on July 1 and earned net income of $395,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2022. for the following two independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) (a) Par value is $10 and market price is $15. Par value is $5 and market price is $8. (b) Debit Credit No. Account Titles and Explanation (a) Stock Dividends Common Stock Dividends Distributable Paid in Capitalin Excess of Stated Value-Common Stock No. Account Titles and Explanation Debit Credit (a) Stock Dividends Common Stock Dividends Distributable Paid-in Capital in Excess of Stated Value-Common Stock (b) Stock Dividends Common Stock Dividends Distributable Paid in Capital in Excess of Stated Value-Common Stock e Textbook and Media List of Accounts Last saved 1 day ago Attempts: 0 of 5 used Save forster Submit