On January 1, Bramble Corporation had 72000 shares of $10 par value common stock outstanding On March 17, the company declared a 15% stock dividend to stockholders of record on March 20, Market value of the stock was $12 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a O credit to Cash for $108000. O debit to Stock Dividends for $21600 O credit to Paid-in Capital in Excess of Par for $21600. O debit to Common Stock Dividends Distributable for $108000

On January 1, Bramble Corporation had 72000 shares of $10 par value common stock outstanding On March 17, the company declared a 15% stock dividend to stockholders of record on March 20, Market value of the stock was $12 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a O credit to Cash for $108000. O debit to Stock Dividends for $21600 O credit to Paid-in Capital in Excess of Par for $21600. O debit to Common Stock Dividends Distributable for $108000

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter21: Corporations: Taxes, Earnings, Distributions, And The Statement Of Retained Earnings

Section: Chapter Questions

Problem 4SEB: STOCK DIVIDENDS Martinez Company currently has 200,000 shares of 1 par common stock outstanding. On...

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