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

question 25

Multiple Choice

On January 1, Soft Corporation had 80,000 shares of $10 par value common stock outstanding.On June 17, the company declared a 10% stock dividend to stockholders of record on June 20.The market value of the stock was $15 on June 17.The stock was distributed on June 30.The entry to record the transaction of June 30 would include a

• A)credit to Common Stock for $80,000.
• B)debit to Common Stock Dividends Distributable for $120,000.
• C)credit to Paid-in Capital in Excess of Par for $40,000.
• D)debit to Stock Dividends for $40,000.

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