Question: Bryce, Inc. declared a 50% stock dividend on March 15, when there were 1,000 shares of $1 par value stock issued and outstanding, and the

Bryce, Inc. declared a 50% stock dividend on March 15, when there were 1,000 shares of $1 par value stock issued and outstanding, and the market value was $5. The entry to record the declaration will include (debit/credit)Blank______ to the Retained Earnings account, in the amount of Blank______. Multiple choice question. credit; $500 debit; $500 credit; $1,000 debit; $1,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A company conducts a consumer survey with questions about home ownership (OwnHome: Yes/No), car ownership (OwnCar: Yes/No), annual household spending on food (Food), and annual household spending on...

Bryce, Inc. declared a 5 0 % stock dividend on March 1 5 , when there were 1 , 0 0 0 shares of $ 1 par value stock issued and outstanding, and the market value was $ 5 . The entry to record the...

Carin, Inc. declared a 50% stock dividend on January 15, when there were 10,000 shares of $1 par value stock issued and outstanding, and the market value was $20. The entry to record the distribution...

On August 3 1 , Telectric, Inc., declared a 7 5 % stock dividend. On the declaration date, there were 6 4 , 0 0 0 shares of $ 5 par value common stock outstanding and the market price was $ 2 0 per...

Question 6 (6 points) Gamma Corp. issued $100,000 of its own 10%, 12-year bonds on their date of issue, January 1, 2019 for $115,247, a price which yielded the buyers an 8% effective rate (market...

Lan Co. had 250,000 shares of common stock issued and outstanding at January 1, 20X6. During 20X6, Lan took the following actions: March 15Declared a 3-for-1 stock split, when the fair value of the...

1. On July 1, 2021, APPLE's Company board of directors declared a 10% share dividend. The market price of Apple's 400,000 outstanding ordinary shares, 50 par value, was 80 per share on the date of...

Choose the correct answer and provide solution in good accounting form. Thank you! 1. On July 1, 2021, APPLE's Company board of directors declared a 10% share dividend. The market price of Apple's...

Wildcat, Inc. declared a 15% stock dividend when it had 350,000 shares of $1 par value common stock outstanding. The market price per share of common stock was $10 per share when the dividend was...

please help me out. asap 26) Whether an employee earns $80,000 a year or $800,000 a year, all of the earnings will be subject to Medicare deductions. (True/False) 27) To record compensated absences...

Galadriel and John, married with no children, own all the stock in Marietta Horse Supplies. The couples C corporation has been in business for ten years. The business has been successful, permitting...

Consider the function f (x) = 3 + ((x - 1)2. a. Find i. ( (9) ii. ( (1) iii. ( (0) iv. ( (-7) b. Find the equation(s) of the inverse of ( (x). Is the inverse a function? c. Describe how you can use...

Please answer the three blanks with X ' s \ table [ [ 7 , Net position, 1 8 , 6 3 6 , 0 ] , [ , Compensated absence expense,, 9 6 8 , 0 ] , [ , Compensated absences , , 0 , 1 9 , 6 0 4 ] , [ 8 , Net...

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...