26)

On January 1, Metlock, Inc. had 150000 shares of $10 par value common stock outstanding. On March 17 the company declared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was $15 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a debit to Stock Dividends for $112500. credit to Cash for $225000. Odebit to Common Stock Dividends Distributable for $225000. O credit to Paid-in Capital in Excess of Par Value for $112500