Question 24 answered Marked out of 100 Question THIS MULTIPLE CHOICE QUESTION (MCQ) IS BASED ON THE SHANDON COMPANY SCENARIO BELOW: SHANDON COMPANY reports the following information at the end of 2018: Authorized Share Capital: 600,000 Ordinary Shares Issued Share Capital 300,000 Ordinary Shares Par Value for Ordinary Shares $2.25 per share Ordinary shares issued at $30 per share Retained Earnings: $14,400,000 The following transactions take place during 2019: August SHANDON Company Company declares a 40% Cash Dividend. September 1: SHANDON Company declares a Property Dividend of Equity Securities valued at $2,200,000. The carrying amount of the Equity Securities is $4,700,000 on September 30 October SHANDON COMPANY declares a share dividend of 10% Novembert: The dividends declared on September 1 and October 1 are distributed. MCQ TWENTY FOUR The transaction of October I will require a CREDIT entry to which account and for how much? Select one: O a. Ordinary Shane Dividend Distributable $67,500 O b. None of these answers Oc. Retained Earnings $135,000 Od Retained Earnings $67,500 O e. Ordinary Share Dividend Distributable $135,000