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majestico majestico
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7 years ago
The journal entry to record the issuance of a stock dividend is to:
A) debit Common Stock Dividend Distributable (number of shares × par value); credit Cash.
B) debit Common Stock Dividend Distributable (number of shares × par value common stock); credit Common Stock (same).
C) debit Retained Earnings (market value × number of shares); credit Common Stock Dividends Distributable (number of shares × par value); credit Paid-in Capital in Excess of Par Value-Stock Dividend.
D) debit Common Stock Dividends Distributable (number of shares × market value common stock); credit Common Stock (same).
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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keytwokeytwo
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majestico Author
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#2
6 years ago
Thanks for attempting to answer. You were correct in your response!
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