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9 To reduce its stock price, Shriver Food Systems, Incorporated, declared and issued a 100 percent stock dividend. The company has 800,000 shares authorized and

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9 To reduce its stock price, Shriver Food Systems, Incorporated, declared and issued a 100 percent stock dividend. The company has 800,000 shares authorized and 200,000 shares outstanding. The par value of the stock is $1 per share and the market value is $100 per share. Prepare the journal entry to record this large stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 0.45 points X 03:53:41 View transaction list Journal entry worksheet eBook Print Record the declaration of a 100 percent stock dividend on the 200,000 shares of stock outstanding with par value of $1 per share and a market value of $100 per share 6 References Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

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