Current Attempt in ProgressOn January 1, Bramble Corporation had 72000 shares of $10 par value common stock outstanding On March 17, the companydeclared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was $12 on March 17. The stock wasdistributed on March 30. The entry to record the transaction of March 30 would include aO credit to Cash for $108000.O debit to Stock Dividends for $21600.O credit to Paid-in Capital in Excess of Par for $21600.O debit to Common Stock Dividends Distributable for $108000

A stock dividend is a dividend paid to shareholders in the form of additional shares in the company.…

Answered: On January 1, Bramble Corporation had…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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