On August 1, 2018, Towson Corp., declared a 5% stock dividend on its

common stock when the market value of the common stock was $18 per share. The balance in the common stock account, before the stock dividend was declared, was $900,000. The par value of all common stock is $10. What is the total dollar amount credited to additional paid in capital – common stock on August 1, 2018?

Did I get this right?
The amount credited to additional paid in capital – common stock on August 1, 2018
August
1, 2018:To record declared stock dividend (10% x $900,000/$10=9,000 shares; 9,000
x $18
Debit,Retained
Earnings——————$162,000
Credit,
Stock dividend distributable—————————$162,000
To
record issue of stock dividends
Debit,Stock
dividend distributable——-$162,000
Credit,Common
stock (9,000 x $10)—————————–$90,000
Credit,
Paid In-capital in excess of par-common stock——$72,000