Business, 06.05.2020 03:11 alyviariggins

Dolanski Company declares and distributes a 40% common stock dividend when it has 50,000 shares of $10 par common stock outstanding. The market price per share is $ 40 at the date of declaration. Which journal entry is prepared?

A. debit Retained Earnings $ 800,000, credit Paidminusin Capital in Excess of Parlong dashCommon $500,000
B. debit Retained Earnings $ 200,000 and credit Common Stock $ 200,000
C. debit Retained Earnings $ 800,000, credit Common Stock $ 200,000 and credit Paidminusin Capital in Excess of Parlong dashCommon $ 600,000
D. debit Retained Earnings $ 800,000 and credit Common Stock $ 800,000

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Dolanski Company declares and distributes a 40% common stock dividend when it has 50,000 shares of $...

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