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Question(s) / Instruction(s):

A corporation reported the following equity section on its current balance sheet. The common stock is currently selling for $12.00 per share.

Common stock, $5 par, 100,000 shares authorized,

                50,000 shares issued                                       $250,000

Paid in capital in excess of par - common               150,000

Retained earnings                                                           300,000

Total stockholders equity                                            $700,000

Which of the following would be included in the entry to record a 10% stock dividend?  

a)            Common stock would be credited for $25,000.  

b)            Common stock would be debited for $25,000.  

c)            Paid-in capital in excess of par - common is debited for $35,000.  

d)            Retained earnings would be credited for $60,000.  

 

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