Hazelton Company has 2,000 shares of $2 par common stock. It also has a credit of...
Hazelton Company has 2,000 shares of $2 par common stock. It also has a credit of $10,000 in the Paid-in-Capital, Excess of Par account as well as a $1,000,000 credit balance in Retained Earnings. Hazelton then enters into a 5% stock dividend. At the time of the stock dividend, the market price is $20 per share. As a result of the stock dividend . . . [Mark all that apply].
Common stock will remain $2 par.
Paid-in-Capital, Excess of Par will be unchanged.
Retained Earnings will be debited.
Retained Earnings will be credited.
Net income will be remain unchanged.
Homework Answers
When Stock dividend declared then retained earnings would be debited and common Stock and paid in capital in excess of par value-Common Stock account would be credited but there is no effect on total Stockholder's equity and net income
So answer is a) Common stock will remain $2 par
c) Retained earnings will be debited
e) Net income will be remain unchanged
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Hazelton Company has 2,000 shares of $2 par common stock. It
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