What is the amount to be debited to the retained earnings, Accounting Basics

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What is the amount to be debited to the retained earnings

Question: The Matt Tress Sofa Company has 11,000 shares of $2 par common stock outstanding. On August 22, 20X1, a 3% stock dividend was declared to be distributed on September 30, 20X1. The market value of the stock on August 22 was $21; the market value on September 30 was $18. What is the amount to be debited to the Retained Earnings account on August 22? Multiple Choice $6,270. $990. $5,940. $6,930.

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Accounting Basics: What is the amount to be debited to the retained earnings

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