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2 8 points In 2022, Rock Lobster Industries issued a small stock dividend equal to 5% of common shares outstanding. At the time, the
2 8 points In 2022, Rock Lobster Industries issued a small stock dividend equal to 5% of common shares outstanding. At the time, the company had 1,000 share of $1 par common stock outstanding and the stock price was $10 per share. In the journal entry to record the issuance, what was the debit to retained earnings?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
4th edition
978-0073369709, 73369705, 78025370, 978-0077444846, 77444841, 978-0078025372
