John Jones Company Has 20,000 Shares of $100 Par Value

question 191

Multiple Choice

John Jones Company has 20,000 shares of $100 par value common stock.Assuming that the proper journal entry was made to record a 5% common stock dividend on the declaration date when the market value of the stock was $135, which of the following accounts would be debited when the stock dividend is distributed?

• A)Retained Earnings.
• B)Dividends Payable.
• C)Common Stock Dividends Distributable.
• D)Paid-in Capital in Excess of Par Value.

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Definitions:

Trait Expression

The manifestation of a specific trait in an organism as determined by its genetic makeup and environmental influences.

Nucleotide Sequences

The order of nucleotides in a DNA or RNA molecule, determining the genetic information carried by that molecule.

DNA Strand

One of the two long chains of nucleotides twisted together to form a double helix in the DNA molecule, encoding genetic information.

Complement

A group of proteins in blood and other body fluids that are activated by an antigen–antibody complex and then destroy pathogens.