Homework Answers
Common stock dividend = 50%
Total value of it is = 100,000 * 50% * $10 / share = $500,000
| Date | Account Details and Explanation | Debit | Credit |
| Jan 1 | Retained Earnings | $500,000 | |
| Common stock Dividend Distributable (50,000 * $2) | $100,000 | ||
| Additional paid in capital, common stock | $400,000 |
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