On January 1, Ripken Corporation Had 80,000 Shares of $10

question 130

Multiple Choice

On January 1, Ripken Corporation had 80,000 shares of $10 par value common stock outstanding.On May 7, the company declared a 10% stock dividend to stockholders of record on May 21.The market value of the stock was $13 on May 7.The entry to record the transaction of May 7 would include a

• A)debit to Stock Dividends for $104,000.
• B)credit to Cash for $104,000.
• C)credit to Common Stock Dividends Distributable for $104,000.
• D)credit to Common Stock Dividends Distributable for $24,000.

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Definitions:

Phallic Stage

A phase in Freud's psychosexual development theory, occurring from about ages 3 to 6, where the libido's focus is on the genital area.

Psychosexual Development

A Freudian theory that proposes that child development occurs in a series of stages which are characterized by sexual pleasures focusing on different parts of the body.

Flirtatious

Exhibiting behavior aimed at attracting or engaging someone romantically or sexually through acts or remarks that suggest interest without explicit intention.

Oral Stage

In psychoanalytic theory, the first stage in a child's psychosexual development, occurring in the first year, where the mouth is the primary focus of pleasurable sensations.