Current Attempt in Progress

On January 1, Waterway Corporation had 218000 shares of $10 par value common stock outstanding. On June 17, the company declared a 12% stock dividend to stockholders of record on June 20. Market value of the stock was $12 on June 17. The stock was distributed on June 30. The entry to record the transaction of June 30 would include a

a. debit to Common Stock Dividends Distributable for $313920.

b. credit to Paid-in Capital in Excess of Par for $52320.

c. debit to Stock Dividends for $313920.

d. credit to Common Stock for $261600. of 1 used Submit Answer

On January 1, Waterway Corporation had 218000 shares of $10 par value common stock outstanding. On June 17 , the company declared a 12% stock dividend to stockholders of record on June 20 . Market value of the stock was $12 on June 17. The stock was distributed on June 30 . The entry to record the transaction of June 30 would include a debit to Common Stock Dividends Distributable for $313920. credit to Paid-in Capital in Excess of Par for $52320. debit to Stack Dividends for $313920. credit to Common Stock for $261600