Saint, Inc. declares a 15% common stock dividend when it has 30,000 shares of $10 par value common stock outstanding. If the market value of $24 per share is used, the amounts debited to Stock Dividends and credited to Paid-in Capital in Excess of Par are: Paid-in Capital in $\begin{array}{ll}&\text { Stock Dividends }&\text { Excess of Par }\
a.&\$ 45,000 & \$ 0 \
b.&\$ 108,000 & \$ 63,000 \
c.&\$ 108,000 & \$ 45,000 \
d.&\$ 45,000 & \$ 63,000
\end{array}$

Question

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The Answer of Saint, Inc. declares a 15% common stock dividend when it has 30,000 shares of $10 par value common stock outstanding. If the market value of $24 per share is used, the amounts debited to Stock Dividends and credited to Paid-in Capital in Excess of Par are: Paid-in Capital in $\begin{array}{ll}&\text { Stock Dividends }&\text { Excess of Par }\
a.&\$ 45,000 & \$ 0 \
b.&\$ 108,000 & \$ 63,000 \
c.&\$ 108,000 & \$ 45,000 \
d.&\$ 45,000 & \$ 63,000
\end{array}$