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Question 17 2.5 pts Giannis Company has 100,000 shares of $10 par value common stock outstanding. Giannis declares a 10% stock dividend on July 1 when the stock's market value is $40 per share. The stock dividend is distributed on July 20. The journal entry for the declaration of the stock dividend is: Account Title Debit Credit Common Dividend Payable 400,000 Cash 400,000 Account Title Debit Credit Retained Earnings 400,000 Common Stock Dividend Distributable 400,000 Account Title Debit Credit Retained Earnings 100,000 Paid-In Capital in Excess of Par Value, Common Stock 300,000 Common Stock Dividend Distributable 400,000 Account Title Debit Credit Common Stock Dividend Distributable 400,000 Retained Earnings 400,000 Account Title Debit Credit Retained Earnings 400,000 Common Stock Dividend Distributable 100,000 Paid-In Capital in Excess of Par Value, Common Stock 300,000

          Question 17
2.5 pts
Giannis Company has 100,000 shares of $10 par value common stock outstanding. Giannis
declares a 10% stock dividend on July 1 when the stock's market value is $40 per share. The
stock dividend is distributed on July 20. The journal entry for the declaration of the stock
dividend is:
Account Title	Debit	Credit
Common Dividend Payable	400,000
Cash		400,000
Account Title	Debit	Credit
Retained Earnings	400,000
Common Stock Dividend Distributable		400,000
Account Title	Debit	Credit
Retained Earnings	100,000
Paid-In Capital in Excess of Par Value, Common Stock	300,000
Common Stock Dividend Distributable		400,000
Account Title	Debit	Credit
Common Stock Dividend Distributable	400,000
Retained Earnings		400,000
Account Title	Debit	Credit
Retained Earnings	400,000
Common Stock Dividend Distributable		100,000
Paid-In Capital in Excess of Par Value, Common Stock		300,000

Question 17
2.5 pts
Giannis Company has 100,000 shares of 10 par value common stock outstanding. Giannis
declares a 10% stock dividend on July 1 when the stock's market value is $40 per share. The
stock dividend is distributed on July 20. The journal entry for the declaration of the stock
dividend is:
Account Title Debit Credit
Common Dividend Payable 400,000
Cash 400,000
Account Title Debit Credit
Retained Earnings 400,000
Common Stock Dividend Distributable 400,000
Account Title Debit Credit
Retained Earnings 100,000
Paid-In Capital in Excess of Par Value, Common Stock 300,000
Common Stock Dividend Distributable 400,000
Account Title Debit Credit
Common Stock Dividend Distributable 400,000
Retained Earnings 400,000
Account Title Debit Credit
Retained Earnings 400,000
Common Stock Dividend Distributable 100,000
Paid-In Capital in Excess of Par Value, Common Stock 300,000

Added by Tiffany N.

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