Shannon Manufacturing Declared a 10% Stock Dividend When It Had

question 13

Multiple Choice

Shannon Manufacturing declared a 10% stock dividend when it had 250,000 shares of $3 par value common stock outstanding. The market price per common share was $12 per share when the dividend was declared. The entry to record this dividend declaration includes a credit to

• A) Retained Earnings for $75,000.
• B) Paid-in Capital in Excess of Par for $225,000.
• C) Common Stock for $75,000.
• D) Common Stock Dividends Distributable for $300,000.

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A series of civil wars in France between 1648 and 1653, characterized by complex alliances among the nobility, the parliament, and the French people, largely in opposition to royal absolutism and the growing centralization of power.

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