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On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9. In the declaration entry, Common Stock Dividend Distributable amount is: * Debit $112,500 O Debit $202,500 Credit $112,500 O Credit $202,500 None of the above

On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9. In the declaration entry, Common Stock Dividend Distributable amount is: * Debit $112,500 O Debit $202,500 Credit $112,500 O Credit $202,500 None of the above

Corporate Financial Accounting
Corporate Financial Accounting
14th Edition
ISBN:9781305653535
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
ChapterD: Investments
Section: Chapter Questions
Problem D.4EX
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ll alfa 3G * Required e 9:32 am On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9. In the declaration entry, Common Stock Dividend Distributable amount is: * Debit $112,500 Debit $202,500 O Credit $112,500 Credit $202,500 O None of the above
Transcribed Image Text:ll alfa 3G * Required e 9:32 am On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9. In the declaration entry, Common Stock Dividend Distributable amount is: * Debit $112,500 Debit $202,500 O Credit $112,500 Credit $202,500 O None of the above
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