Cloud Manufacturing Declared a 10% Stock Dividend When It Had

question 204

Multiple Choice

Cloud Manufacturing declared a 10% stock dividend when it had 700,000 shares of $3 par value common stock outstanding.The market price per common share was $12 per share when the dividend was declared.The entry to record this dividend declaration includes a credit to

• A)Stock Dividends for $210,000.
• B)Paid-in Capital in Excess of Par for $630,000.
• C)Common Stock for $210,000.
• D)Common Stock Dividends Distributable for $840,000.

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Definitions:

Resting Potential

The electrical charge difference across the cell membrane while a neuron is at rest, typically around -70mV, enabling the potential for action potentials.

Action Potential

A rapid increase and subsequent decrease in voltage across a cellular membrane, allowing neurons and muscle cells to communicate and react to stimuli.

Convergence

The evolutionary process where organisms from different evolutionary backgrounds develop similar traits or features in response to similar environmental challenges or functional needs.

Typical Neuron

A cell of the nervous system, characterized by its ability to receive and transmit electrical signals throughout the body.