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please send correct answer. i really need the correct answer. i tried but i couldnt get the answer correct. Exercise 14-3 Your answer is partially
please send correct answer. i really need the correct answer. i tried but i couldnt get the answer correct.
Exercise 14-3 Your answer is partially correct. Try again. On January 1, 2017, Frontier Corporation had $1,335,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,500. The company issued 45,000 shares of common stock at par on July 1 and earned net income of $405,000 for the year. Journalize the declaration of a 16% stock dividend on December 10, 2017, for the following independent assumptions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. (a) Par value is $10, and market price is $19. (b) Par value is $5, and market price is $22 No. Account Titles and Explanation Debit Credit (a) Stock Dividends 1368000 Common Stock Dividends Distributable 72000 Paid-in Capital in Excess of Par-Common Stock 64800 (b) Stock Dividends 158400 Common Stock Dividends Distributable 36000 Paid-in Capital in Excess of Par-Common Stock 122400 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTSStep by Step Solution
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