On January 1, Oriole Corporation had 83000 shares of $10 par value common stock outstanding. On June 17, the company declared a 10% stock dividend to stockholders of record on June 20. Market value of the stock was $13 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a O credit to Common Stock for $83000. debit to Stock Dividends for $24900. credit to Paid-in Capital in Excess of Par for $24900. debit to Common Stock Dividends Distributable for $107900.

On January 1, Oriole Corporation had 83000 shares of $10 par value common stock outstanding. On June 17, the company declared a 10% stock dividend to stockholders of record on June 20. Market value of the stock was $13 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a O credit to Common Stock for $83000. debit to Stock Dividends for $24900. credit to Paid-in Capital in Excess of Par for $24900. debit to Common Stock Dividends Distributable for $107900.

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Description: Current Attempt in ProgressX Your answer is incorrect.On January 1, Oriole Corporation had 83000 shares of $10 par value common stock outstanding. On June 17, the company declared a10% stock dividend to stockholders of record on June 20. Market valu

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 13EB: Nutritious Pet Food Companys board of directors declares a large stock dividend (50%) on June 30...

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