a &b

Eastine Corporation had 16,500 shares of $5 par value common stock outstanding when the board of directors declared a stock dividend of 5,445 shares. At the time of the stock dividend, the market value per share was $15. The entry to record this dividend is: Muitipio Choice Debit Common Stock Dividend Ditributable $81,675, credit Retained Earnings $81,675 : No entry is neededi Debit Retained Entnings \$27,225: credit Common Stock Didend Distributable $27,225. Debit Retained Eamings 581,675 , credit Common Stock Dividend Distributable $27,225, credit Paidin Capital in Excess of Par Value, Comenon 5 tock $54,450. Debit Retalned Earnings \$81.675; credit Common Stock Dividend Distributable $81.675. The total number of shares outstanding is always equal to the number of shares authorized. True or False