Question: Williamson Company declared and distributed a 10% stock dividend when it had 700 comma 000700,000 shares of $1 par value common stock outstanding. The market

Williamson Company declared and distributed a 10% stock dividend when it had 700 comma 000700,000 shares of $1 par value common stock outstanding. The market price per share of common stock was $ 50$50 per share when the dividend was declared. The journal entry to record the stock dividend would include a credit to: Question content area bottom Part 1 A. Paidminusin Capital in Excess of Parlong dashCommon $ 3 comma 430 comma 000$3,430,000. B. Common Stock $ 700 comma 000$700,000. C. Retained Earnings $ 70 comma 000$70,000. D. Retained Earnings $ 700 comma 000$700,000

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!

Joe and Jessie are married and have one dependent child, Lizzie. Lizzie is currently in college at State University. Joe works as a design engineer for a manufacturing firm, while Jessie runs a craft...

Count of Gender Column Labels 4 Row Labels Female Male Prefer not to say Grand Total A 47 41 17 105 B 34 25 17 76 3 2 5 7 4 14 Grand Total 91 70 39 200 Count of Gender Column Labels -T Row Labels...

please help 9. The figure below shows a roller coaster. The 500 kg carriage is starting from stationary at B and rolls along the track, past position D. At position D, it is clocked at 13m/s. D 35 m...

What is likely to happen to interest rates if the rate of inflation suddenly increases? Suppose there are two bonds each with coupon payments of $50. The first bond pays $1,000 in five years, and the...

Player Many types of transactions may affect stockholders' equity. Identify the effects of the following transactions on total stockholders' equity. Each transaction is independent. a. A 10% stock...

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....

17. On January 1, 2006, Fascom had the following account balances in its shareholders' equity accounts. Required: Without preparing journal entries, prepare the shareholders' equity section of...

1. On January 1, 2019, Always Corporation issues $3,100,000, 5year, 12% bonds for $3,010,000. Interest is paid semiannually on January 1 and July 1. Always Corporation uses the straightline method of...

The Home Store reported the following figures: Retained Earnings, February 1, 2019...........$15 million Retained Earnings, February 1, 2018...........$22 million The company's fiscal year ends on...

The impairment loss on long-term plant assets equals: Question 30 options: A) estimated future cash flows minus present value. B) net book value minus fair value. C) estimated future cash flows minus...

content area top Part 1 Williamson Company declared and distributed a 10% stock dividend when it had 400,000 shares of $1 par value common stock outstanding. The market price per share of common...

a. Holt Corporation acquires all the stock of Star Corporation and makes a timely Sec. 338 election. The adjusted grossed-up basis of the Star stock is $2.5 million. The FMV of tangible assets on...

Asiamart, Inc. was a U.S. company that operated shopping centers in Hong Kong. The shopping centers offered discounted international brands, to Chinese tourists brought to the shopping centers by...

How can you get the answer of 3 3 for the square root of 9 9 ?

Warwick, Inc., a U.S. corporation, owns 100% of NewGrass, Ltd., a foreign corporation. NewGrass earns only general limitation income. During the current year, New Grass paid Warwick a $10,000...

The declaration, record, and payment dates in connection with a cash dividend of $115,000 on a corporations common stock are October 15, November 14, and December 14. Journalize the entries required...

You are the manager of a local sporting goods store and recently purchased a shipment of 60 sets of skis and ski bindings at a total cost of $ 25,000 (your wholesale supplier would not let you...

Schroeder parked his car in a parking lot operated by Allright, Inc. On the parking stub given him was printed in large, heavy type that the lot closed at 6:00 P.M. Under this information, printed in...

Determine if the overhead allocated to the product relates to a single plantwide overhead rate method, multiple production department factory overhead rate method, or activity-based costing...

21. If you were advising Ron Brown, would you recommend that he implement the professors skillbased pay and incentive pay plan as is? Why? Would you implement it with modifications? If you would...

Proxy What is a proxy? LO.1

23. Are the Occupational Safety and Health Administrations standards, policies, and rules aimed at addressing problems like the ones that apparently existed at the Texas City plant? If so, how would...