Multiple Choice
Arnold,Inc.declares and distributes a 10% common stock dividend when it has 10,000 shares of $10 par value common stock outstanding.If the market value of the common stock is $20,the journal entry to record the stock dividend would include a:
A) debit to Retained Earnings $20,000.
B) debit to Retained Earnings $1000.
C) credit to Paid-in Capital in Excess of Par-Common $20,000.
D) credit to Paid-in Capital in Excess of Par-Common $1000.
Correct Answer:
Verified
Correct Answer:
Verified
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