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Annette [7]
2 years ago
14

On January 1, 2019, Cullumber Company had $1,000,000 of common stock outstanding that was issued at par. It also had retained ea

rnings of $740,000. The company issued 35,000 shares of common stock at par on July 1 and earned net income of $390,000 for the year.
Required:
Journalize the declaration of a 14% stock dividend on December 10, 2020, for the following independent assumptions.
a. Par value is $10, and market price is $18.
b. Par value is $5, and market price is $20.
Business
1 answer:
Flauer [41]2 years ago
4 0

Answer:

<em>a. Par value is $10, and market price is $19. b. Par value is $5, and market price is $20.</em>

Explanation:

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