Jennings Corp

question 10

Multiple Choice

Jennings Corp.has 1,000,000 shares of $1 par value stock authorized,200,000 shares issued,and 150,000 shares outstanding.On June 1,2014,Jennings' Board of Directors declared a 10% stock dividend.At that time,the stock had market value of $30.How would the company record this transaction?

• A)Debit Retained Earnings for $15,000 and credit Common Stock Dividend Distributable for $15,000.
• B)Debit Retained Earnings for $450,000,credit Common Stock Dividend Distributable for $15,000,and credit Paid-In Capital in Excess of Par Value,Common Stock for $435,000.
• C)Debit Common Stock Dividend Distributable for $450,000 and credit Common Stock,$1 Par Value for $450,000.
• D)Debit Common Stock Dividend Distributable for $435,000 and credit Common Stock,$1 Par Value for $435,000.
• E)Debit Common Stock Dividend Distributable for $15,000 and credit Common Stock,$1 Par Value for $15,000.

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Definitions:

Radio Commercials

Advertising messages broadcasted on radio stations to reach a wide audience with the intent of promoting products or services.

Idea Development

The process of refining and enhancing an idea or concept to increase its potential for success or applicability.

Dramatization

The theatrical presentation of products.

Visuals

Images, diagrams, videos, or any graphic elements used to convey information or enhance communication in various contexts.