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On June 30, 2019, when Elmer Inc. shares were selling for $ 65 each, equity accounts had the following balances: Common Stock (par value $
On June 30, 2019, when Elmer Inc. shares were selling for $ 65 each, equity accounts had the following balances: Common Stock (par value $ 50; 50,000 shares issued) $ 2,500,000 Contributed Capital in Excess of Par Value 600,000 Retained Earnings 4,200,000 If a 100% stock dividend is declared and distributed, the balance of the Common Stock account will be
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