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On January 1, Bramble corp. had 98000 shares of $10 par value common stock outstanding. On May 7, the company declared a 10% stock dividend
On January 1, Bramble corp. had 98000 shares of $10 par value common stock outstanding. On May 7, the company declared a 10% stock dividend to stockholders of record on May 21. Market Value of the stock was $14 on May 7. The stock was distributed on May 24. The entry to record the transaction on May 24 would include a
A) Credit to paid-in capital in excess of Par value for $39200
B) debit to common stock dividends distributable for $137200
C)debit to stock dividends for $39200
D) Credit to common stock for $98000
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