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On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 25,000, $16 par, common shares. The market price
On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 25,000, $16 par, common shares. The market price of the common stock is $45 on this date.
Exercise 10-10A Record stock dividends and stock splits (LO10-6) On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 25,000, $16 par, common shares. The market price of the common stock is $45 on this date. Required: 1. 2. & 3. Record the necessary journal entries assuming a small (10%) stock dividend, a large (100%) stock dividend, and a 2-for-1 stock split. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list > 1 Record the stock dividend assuming a small (10%) stock dividend. 2 Record the stock dividend assuming a large (100%) stock dividend. 3 Record the stock dividend assuming a 2-for-1 stock split. CreditStep by Step Solution
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