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On January 1, AB Corporation had 300,000 common shares issued. On April 10, the company declared a 10% stock dividend to be distributed on April
On January 1, AB Corporation had 300,000 common shares issued. On April 10, the company declared a 10% stock dividend to be distributed on April 30. The date of record was April 20. The market value of the shares was $5 on April 10, $7 on April 20 and $9 on April 30. The entry to record the transaction on April 10 would include a Multiple Choice O Credit to Retained Earnings for $270,000. Credit to Stock Dividends Distributable for $150,000. Credit to Common Shares for $210,000. Credit to Stock Dividends Payable for $150,000. Credit to Stock Dividends Distributable for $270,000
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