Rocco Corporation decides to issue a 7.5% stock dividend on 20,000 outstanding shares of $10 stated value common stock. The distribution is made at the time the market value of the stock is $50 a share. How will the entry to record this transaction affect the company's equity accounts? CommonStockPaid-in Capital in Excessof Par Value - CommonRetained EarningsA.$200,000 $300,000 $(50,000)B.$15,000 NA $(15,000)C.$15,000 60,000 $(75,000)D.$100,000 NA $(100,000)
A. Choice A
B. Choice B
C. Choice C
D. Choice D
Answer: C
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