Question: Sebold Manufacturing declared a 10% stock dividend when it had 700,000 shares of $3 par value common stock outstanding. The market price per common share

Sebold Manufacturing declared a 10% stock dividend when it had 700,000

Sebold Manufacturing declared a 10% stock dividend when it had 700,000 shares of $3 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to a. Stock Dividends for $210,000. b. Paid-in Capital in Excess of Par for $630,000. c. Common Stock for $210,000. d. Common Stock Dividends Distributable for $840,000

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!

What are (broadly speaking) the five stages of the research process?

On August 15, a corporation's board of directors declared a 10% stock dividend on the corporation's 3,000 outstanding shares of $1 par value common stock. The market price of the corporation's stock...

1. Eames Inc. declared and distributed a 40% stock dividend on 30,000 shares of issued and outstanding $3 par value common stock. The market price per share was $12 on the declaration date. Record...

Dora Company declared and distributed a 10% stock dividend on 30,000 shares of issued and outstanding $5 par value common stock. The market price per share was $19 on the declaration date and was $20...

Dora Company declared and distributed a 25% small stock dividend on 23,000 shares of issued and outstanding $5 par value common stock. The market price per share was $12 on the declaration date....

Dora Company declared and distributed a 10% stock dividend on 20,000 shares of issued and outstanding $5 par value common stock. The market price per share was $9 on the declaration date. Which of...

I don't understand why retained earnings decreased. Thank you HS ch 11 - solution.. T 4 19 Exercise 3 DORA Company declared and distributed a 10% stock dividend on 20,000 shares of issued and...

Bonita Manufacturing declared a 10% stock dividend when it had 790000 shares of $3 par value common stock outstanding. The market price per common share was $14 per share when the dividend was...

D Question 40 2 pts A company declared and distributed an 8% dividend on 800,000 shares of $5 par value common stock outstanding. Market price per common share on this date was $25. What is the debit...

Assume a firm has declared a 10% stock dividend on its 1.5 million shares of outstanding $3 par value common stock. If the market value of the stock at the date of the stock dividend is $10 per share...

Many Republicans look at Reagans policies in the early 1980s and assert that tax cuts pay for themselves. Thats wrongReagans rate cuts for the rich paid for themselves, but the tax cuts for the poor,...

Companies report prior period adjustments, net of any income tax effects in: O A. Statement of retained earnings. OB. Income statement. O C. Footnotes in the Financial Statements. O D. No disclosure...

3 . 5 What is the effective annual yield of 8 . 7 % compounded continuously?

Hypothesis Testing of a Single Mean LCTCS Tuition: Louisiana Community And Technical College System consist of 2 community colleges across the state. I think RPCC's tuition and fees is lower than the...

11. Are your speaking notes helpful and effective?

3. Pay attention to how you meet people and the general first impression you receive from them. Ask yourself what makes you feel the way you do about the person. Does the person make you feel...

The Goals of Informative Speaking Topics for Informative