A company originally issued 14,000 shares of $5 par value common stock at $12 per share. The board of directors declares a 14% stock dividend when the market price of the stock is $25 a share. Which of the following is included in the entry to record the declaration of a stock dividend?
A) Stock Dividends is debited for $24,500.
B) Common Stock—$5 Par Value is credited for $47,040.
C) Common Stock is credited for $49,000.
D) Stock Dividends is debited for $49,000.
D) Stock Dividends is debited for $49,000.
Explanation: Stock Dividends (14,000 shares × 14% × $25 market price) = $49,000
You might also like to view...
________ refers to the sale of two or more goods or services as a single package for one price
A) Two-part pricing B) Captive pricing C) Price bundling D) List pricing E) Everyday low pricing
Duncan reported net sales of $2,523 million and average total assets of $1,476 million. Its total asset turnover equals 0.59.
Answer the following statement true (T) or false (F)
Each state has a criminal code and the federal government also has a criminal code
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true of women in the workforce?
A. They are not represented on standing committees. B. Their share of authority is increasing commensurately with their education. C. A majority of them occupy line positions in business. D. They receive fewer benefits than their male counterparts.