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2. (13 Points) At January 1, 2021, Rapid Corp. had 100,000 shares of $2 par value common stock outstanding and $300,000 in retained earnings. During

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2. (13 Points) At January 1, 2021, Rapid Corp. had 100,000 shares of \$2 par value common stock outstanding and $300,000 in retained earnings. During 2022 , several transactions affected the stockholders' equity of Rapid Corp. Prepare the appropriate journal entries and disclosures for the following events. Required: (a) On March 1, the board of directors declared a cash dividend of $0.20 per share. (b) March 15 was the day of record for the dividend declared on March 1. There were 2,350 stockholders on record on that day. (c) On April 1, paid the dividend declared on March 1. (d) On September 10 declared and distributed a 2 for 1 stock split. (e) On November 4, the board of directors declared a 4% stock dividend. The market value of the common stock was $22 per share. (f) On December 14, distributed the stock dividend declared on November 4. The market value of the common stock was $23 per share

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