Multiple Choice
A company originally issued 10,000 shares of $5 par value common stock at $9 per share. The board of directors declares an 8% stock dividend when the market price of the stock is $10 a share. Which of the following is included in the entry to record the declaration of a stock dividend?
A) Retained Earnings is debited for $4,000.
B) Common Stock-$5 Par Value is credited for $7,200.
C) Common Stock is credited for $8,000.
D) Retained Earnings is debited for $8,000.
Correct Answer:
Verified
Correct Answer:
Verified
Q25: The purchase of treasury stock:<br>A)decreases both assets
Q28: Occidental Produce Company has 40,000 shares of
Q29: On the _, cash dividends become a
Q31: On June 30, 2015, Roger Company showed
Q33: Gordon Corporation reported the following equity section
Q34: Nice International originally issued 100,000 shares of
Q190: A net loss for the year decreases
Q213: Treasury stock is a contra equity account.
Q265: A stock split decreases par value per
Q276: Paid-in capital is externally generated capital and