On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9. In the declaration entry, Common Stock Dividend Distributable amount is: * Debit $112,500 O Debit $202,500 Credit $112,500 O Credit $202,500 None of the above

On November 1, 2020, XYZ Co. declares a 15% stock dividend on its 150,000 shares of $5 par value common stock outstanding, at that date the stock fair market value was $9. In the declaration entry, Common Stock Dividend Distributable amount is: * Debit $112,500 O Debit $202,500 Credit $112,500 O Credit $202,500 None of the above

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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