Business, 11.12.2019 18:31 jngonzo1226

Eastline corporation had 10,000 shares of $10 par value common stock outstanding when the board of directors declared a stock dividend of 3,000 shares. at the time of the stock dividend, the market value per share was $12. the entry to record this dividend is:

a. debit retained earnings $36,000; credit common stock dividend distributable $36,000.
b. debit retained earnings $36,000; credit common stock dividend distributable $30,000; credit paid-in capital in excess of par value, common stock $6,000.
c. debit common stock dividend distributable $36,000; credit retained earnings $36,000.
d. debit retained earnings $30,000; credit common stock dividend distributable $30,000.
e. no entry is needed.

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