A corporation reported the following equity section on its current balance sheet
The common stock is currently selling for $15.00 per share.
Common Stock, $6 par, 106,000 shares authorized,57,000 shares issued and outstanding $342,000
Paid in Capital in Excess of Par 150,000
Retained Earnings 500,000
Total Stockholders' Equity $992,000
Which of the following would be included in the entry to record the distribution of a 15% stock dividend?
A) Common Stock-$6 Par Value would be credited for $51,300.
B) Stock Dividends would be debited for $95,400.
C) Paid-In Capital in Excess of Par-Common is debited for $95,400.
D) Stock Dividends would be credited for $51,300.
A .A) Common Stock 57,000 shares x 15% x $6 = $51,300
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Procuring cause is best defined as an agent who is entitled to a commission because the agent was the one who:
A. introduced the buyer to the property B. met the buyer at an open house C. initiated an uninterrupted series of events that led to that state D. wrote up the offer
The following data relate to direct labor costs for the current period: Standard costs 7,500 hours at $11.50 Actual costs 6,000 hours at $12.00 What is the direct labor time variance?
A) $3,000 favorable B) $15,000 unfavorable C) $2,400 favorable D) $17,250 favorable