Goforth Company has 1,000,000 shares of $.10 par common stock issued and outstanding. The board...
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Accounting
Goforth Company has 1,000,000 shares of $.10 par common stock issued and outstanding. The board of directors declares an 8% stock dividend when the market value of the stock is $100. Which of the following statement is true? a. The entry to record the declaration will include a credit to Common Stock for $8,000. b. Retained Earnings will decrease by $8,000,000. c. The entry to record the distribution of the shares will increase Additional Pajid in Capital in Excess of Par-Common Stock by $7,992,000 d. Retained Earnings will decrease by $800,000 and Total Paid in Capital will increase by the same amount
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