Visor inc had 300000 shares of 20 par common stock

Reference no: EM13460543

Visor, Inc. had 300,000 shares of $20 par common stock outstanding when a 3% stock dividend was declared. The market price of the stock at the time of the declaration was $22 per share. The journal entry to record the dividend declaration would include a credit to:

a. Common Stock for $180,000

b. PIC-excess of par-CS for $198,000

c. Stock Dividends for $198,000

d. Stock Dividends Distributable for $180,000

Reference no: EM13460543

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