Use the Following Information for Questions

question 118

Multiple Choice

Use the following information for questions
On January 1, BearBack Corporation had 300,000 common shares issued.On April 10, the company declared a 10% stock dividend to be distributed on April 30.The market value of the shares was $7 on April 10 and $10 on April 30.
-The entry to record the transaction of April 10 would include a

• A)credit to Retained Earnings for $30,000.
• B)credit to Cash for $210,000.
• C)credit to Stock Dividends Distributable for $210,000.
• D)debit to Stock Dividends Distributable for $300,000.