Homework Answers
Option 'A' is correct
Stock dividends is debited for $39,900
Stock dividend 15%
14,000 shares * 15% = 2,100 shares
current Market price of the share = $19 / share
So common stock dividends = 2,100 *19 = $39,900
Stock dividends account....debit $39,900
To Stock dividends distributable Credit $39,900
Retained earnings account ....debit $39,900
To common stock account credit $21,000
To Paid in capital excess of par-common $18,900
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