A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common stock outstanding. Market price per common share on this date was $25. What is the debit to Retained Earnings for the value of the stock dividend? $64,000 O $320,000 O $1,600,000 O $40,000,000 79 F

A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common stock outstanding. Market price per common share on this date was $25. What is the debit to Retained Earnings for the value of the stock dividend? $64,000 O $320,000 O $1,600,000 O $40,000,000 79 F

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 11MC: A company issued 30 shares of $.50 par value common stock for $12,000. The credit to additional...

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Question

A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common
stock outstanding. Market price per common share on this date was $25. What is the debit to
Retained Earnings for the value of the stock dividend?
O $64,000
O $320,000
O $1,600,000
O $40,000,000
79°F Rair

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