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Kinmi Financial Corporation is the parent company of Kinmi Bank. The company's stock split was announced in the following wire: LOS ANGELES Jan. 20 BUSINESS
Kinmi Financial Corporation is the parent company of Kinmi Bank. The company's stock split was announced in the following wire: LOS ANGELES Jan. 20 BUSINESS WIRE-Kinmi Financial Corporation (Nasdaq), announced that the Board of Directors has approved a two-for-one stock split, to be effected in the form of a 100 percent common stock dividend. Kinmi Financial Corporation storing then held. Distribution of additional shares issued as a result of the split is expected on or of 15. At the time of the stock split, 44.5 million shares of common stock, $0.001 par per share, were outstanding. Required: 1. Prepare the journal entry, if any, that Kinmi recorded at the time of the stock split. Complete this question by entering your answers in the tabs below. Prepare the journal entry, if any, that Kinmi recorded at the time of the stock split. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) Journal entry worksheet Record the stock split effected in the form of a stock dividend
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