loader  Loading... Please wait...

Question(s) / Instruction(s):

A company originally issued 10,000 shares of $20 common stock at $22. The board of directors declares a 15% 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 stock dividend?  

a)            Common stock is credited for $30,000.  

b)            Paid-in capital in excess of par is debited for $7,500.  

c)            Income summary is debited for $37,500.  

d)            Common stock is debited for $30,000.  


Find Similar Answers by Subject

Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)

Expert's Answer
Download Solution:

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)

Reach Us