A corporation had 30,000 shares of $10 par value common stock outstanding on January 1...
80.2K
Verified Solution
Link Copied!
Question
Accounting
A corporation had 30,000 shares of $10 par value common stock outstanding on January 1 . The board of directors declared a 10% stock dividend when the market value of each share was $15. The entry to record this dividend would include: debit retained earnings $45,000, credit common stock dividend distributable $45,000 debit retained earnings $45,000, credit cash $45,000 debit retained earnings $45,000, credit common stock dividend distributable $30,000, credit additional paid-in capital $15,000 debit retained earnings $30,000, credit common stock dividend distributable $30,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
