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Epic Incorporated has 10,000 shares of $2 par value common stock outstanding. Epic declares a 5% stock dividend on July 1 when the stock's
Epic Incorporated has 10,000 shares of $2 par value common stock outstanding. Epic declares a 5% stock dividend on July 1 when the stock's market value is $8 per share. The stock dividend is distributed on July 20. Required: Prepare journal entries for (a) declaration and (b) distribution of the stock dividend.
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a Declaration of the stock dividend When the stock dividend is declared the company needs to transfe...
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
2nd edition
9781305727557, 1285453824, 9781337116619, 130572755X, 978-1285453828
