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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.  

 

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