Samuel Corporation Declared and Distributed a 10 Percent Stock Dividend

question 18

Multiple Choice

Samuel Corporation declared and distributed a 10 percent stock dividend on its $5 par common stock in November.10,000 shares of common were authorized,8,000 were issued and outstanding at the declaration.The market value on the date of declaration was $12 per share.The amount credited to Paid-in-Capital in Excess of Par Value-Common Stock is:

• A) $0.
• B) $4,000.
• C) $5,600.
• D) $9,600.

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