On Jan 1, How Co. issued 9,000 shares of $3 par common stock for $7 per share. On Feb 1, the company purchased 3,000 shares for Treasury Stock for $18,000 total. On Mar 1, the company’s Board declared a 33% stock dividend on all outstanding shares. Stock on Mar 1 was selling for $7 per share. The journal entry for Mar 1 would include which one of the following components? A. a CREDIT to Cash for 14,000 B. a CREDIT to Retained Earnings for 6,000 C. a DEBIT to Additional Paid in Capital for 6,000 D. a CREDIT to Common Stock for 9,000 E. a DEBIT to Additional Paid in Capital for 24,000 On Feb 1, the company purchased 3,000 shares for Treasury Stock for $18,000 total. On Mar 1, the company’s Board declared a 33% stock dividend on all outstanding shares. Stock on Mar 1 was selling for $7 per share. The journal entry for Mar 1 would include which one of the following components? A. a CREDIT to Cash for 14,000 B. a CREDIT to Retained Earnings for 6,000 C. a DEBIT to Additional Paid in Capital for 6,000 D. a CREDIT to Common Stock for 9,000 E. a DEBIT to Additional Paid in Capital for 24,000
On Jan 1, How Co. issued 9,000 shares of $3 par common stock for $7
per share. On Feb 1, the
company purchased 3,000 shares for Treasury Stock for
$18,000 total. On Mar 1, the company’s Board declared a 33% stock dividend on
all outstanding shares. Stock on Mar 1 was selling for $7 per share. The journal
entry for Mar 1 would include which one of the following components?
A. a CREDIT to Cash for 14,000
B. a CREDIT to Retained Earnings for 6,000
C. a DEBIT to Additional Paid in Capital for 6,000
D. a CREDIT to Common Stock for 9,000
E. a DEBIT to Additional Paid in Capital for 24,000
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