Using the Following Accounts

question 56

Multiple Choice

Using the following accounts:
Indicate the account(s) to be debited and credited to record the following transactions.
-Declared a stock dividend when the market price was above par.
Debit ________ Credit ________ & ________

• A)Cash
• B)Dividends payable
• C)Preferred stock
• D)Common stock
• E)Common Stock dividend distributable
• F)Paid-in capital in excess of par value-common
• G)Paid-in capital in excess of par value - preferred
• H)Paid-in capital from treasury stock
• I)Retained earnings
• J)Treasury stock
• K)Paid-in capital in excess of par value-Stock dividend

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Definitions:

Atomic Open Sentence

An expression in logic or mathematics that contains one or more variables and becomes either true or false when the variables are replaced with specific values.

Compound

Pertaining to a substance made up of two or more elements chemically combined in fixed proportions.

Atomic

Relating to atoms, the smallest constituent unit of ordinary matter that has the properties of a chemical element.

Symbolized Categorical Statement

A logical statement that uses symbols to represent categorical propositions, typically involving qualifiers such as all, some, or no.