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A company has 37,000 shares of $10 par value common stock outstanding. The company declares a 10% stock dividend on March 15 when the
A company has 37,000 shares of $10 par value common stock outstanding. The company declares a 10% stock dividend on March 15 when the stock's market value is $26 per share. The stock dividend is distributed on March 30. Prepare the journal entry for the (a) declaration and (b) distribution of the stock dividend.
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
8th Edition
9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292
