At the beginning of 20xx, Helms Corporation had 34,000 shares of $10 par value common stock issued and outstanding. During January 20xx, Helms declared and distributed a 10 percent stock dividend. The market value of Helms's stock was $24 throughout the month of January. The entry to be recorded for the declaration of stock dividend is :
a. Stock Dividends 81,600
Common Stock Distributable 34,000
Additional Paid-in Capital 47,600
b. Common Stock Distributable 81,600
Common Stock 81,600
c. Common Stock Distributable 81,600
Common Stock 34,000
Retained Earnings 47,600
d. Stock Dividends 68,000
Cash 68,000
A
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