Huron Company had 50,000 shares of $50 par value common stock outstanding on June 30,2016. On July 1, the board of directors declared a 10% stock dividend when the marketvalue of each share was $54.The journal entry on July 1 will include:Question 4 options:A) A credit to Stock Dividend Distributable for $270,000B) A debit to Retained Earnings for $250,000C) A credit to Stock Dividend Distributable for $250,000|D) A credit to Paid-in capital in excess of par value $270,000.

Journal entries record accounting transactions entered during a fiscal year.Journal entries are…

Answered: Huron Company had 50,000 shares of $50…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Problem 1Q

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