Use the Following Information for Questions

question 61

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 30 would include a

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

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Definitions:

Steady Rate

A constant or unchanging rate over a period of time, often used to describe economic growth, inflation, or other financial metrics.

Economic Growth

An increase in the production of goods and services in an economy over time, often measured by the rise in Gross Domestic Product (GDP).

Infinite Slope

An idealized concept in mathematics and economics indicating a line that has an immeasurable steepness or an undefined gradient.

Negative Slope

Negative slope indicates a decrease in the variable on the y-axis as the variable on the x-axis increases, often seen in graphs representing inverse relationships.