Business, 05.11.2020 18:30 sindy35111
Marcy Company declared a 100% common stock dividend on January 1, 2005, when the market price of the stock was $7.50. The entry to record this dividend will:
A) debit Retained Earnings,$100,000
B) credit Common Stock Dividend Distributable,$50,000
C) credit Contributed Capital in excess of par, Common Stock, $25,000
D) credit Common Stock Dividend Distributable, $100,000
E) Since this is considered a stock split, no journal entry is made
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Marcy Company declared a 100% common stock dividend on January 1, 2005, when the market price of the...
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