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A corporation's stockholders' equity section had $10 par value Common stock issued, with a total par value of $750,000. It also had 3,500 shares in
A corporation's stockholders' equity section had $10 par value Common stock issued, with a total par value of $750,000. It also had 3,500 shares in treasury stock. The corporation declares and distributes a 16% stock dividend when the market value of the stock is $27 per share. Determine the amount debited to Retained Earnings as a result of the stock dividend. 1) $324,000 2) $308,880 3) $194,480 4) $114.400
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