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What is the journal entry

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Question - The Malone Company has 200,000 shares of $10 par common stock outstanding. Management declares (not pays) a 10% stock dividend. The market value of a share of common stock was $15 immediately prior to the stock dividend declaration. What is the journal entry for this:

A) debit retained earnings, $300,000; credit stock dividend distributable, $100,000; credit paid in capital in excess of par, $200,000.

B) debit retained earnings, $300,000; credit stock dividend distributable, $200,000; credit paid in capital in excess of par, $100,000

C) debit stock dividends distributable, $200,000; credit common stock, $200,000.

D) debit stock dividends distributable, $150,000; credit common stock, $150,000.

Reference no: EM132484452

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