Multiple Choice
Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Declared a stock dividend when the market price was above par.
Debit ________ Credit ________ & ________
A) Cash
B) Dividends payable
C) Preferred stock
D) Common stock
E) Common Stock dividend distributable
F) Paid-in capital in excess of par value-common
G) Paid-in capital in excess of par value - preferred
H) Paid-in capital from treasury stock
I) Retained earnings
J) Treasury stock
K) Paid-in capital in excess of par value-Stock dividend
Correct Answer:

Verified
Correct Answer:
Verified
Q51: An entry to appropriate a portion of
Q52: Discuss and describe the major differences among
Q53: Redemption of stock allows the corporation to
Q54: What is the correct journal entry for
Q55: An error understating Net Income would overstate
Q57: From the following, determine the book value
Q58: Under the legal capital approach, issuance of
Q59: Payment of a cash dividend causes:<br>A) a
Q60: If treasury stock is sold for less
Q61: Prepare the following journal entries for Complex