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Question
on january 1, hamblin corporation had 80,000 shares of $10 par value common stock outstanding. on march 17 the company declared a 10% stock dividend to stockholders of record on march 20. market value of the stock was $13 on march 17. the entry to record the transaction of march 17 would include a
a.credit to stock dividends for $24,000
b.credit to cash for $104,000
c.credit to common stock dividends distributable for $80,000
d.debit to common stock dividends distributable for $80,000
Answer
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