Mite's Corporations board of directors has 220,000 shares of its $10 par value common stock, which are authorized, issued, and outstanding Feb 15 Declared a 2 percent stock dividend applicable to the outstanding shares, of which the market value of the common stock was $15 per share Mar 1 Date of record Mar 15 The stock dividend was distributed to stockholders of record Mar 30 The board of directors declared a $0 50 per share cash dividend REQUIRED Prepare journal entries to record the above transactions

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Mite's Corporations board of directors has 220,000 shares of its $10 par value common stock, which are authorized, issued, and outstanding  Feb 15 Declared a 2 percent stock dividend applicable to the outstanding shares, of which the market value of the common stock was $15 per share  Mar 1 Date of record Mar 15 The stock dividend was distributed to stockholders of record  Mar 30 The board of directors declared a $0 50 per share cash dividend  REQUIRED Prepare journal entries to record the above transactions

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Mite's Corporations board of directors has 220,000 shares of its $10 par value common stock, which are

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Corporate Finance

Mite's Corporations board of directors has 220,000 shares of its $10 par value common stock, which are

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Corporate Finance

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