Business, 13.05.2021 18:00 isabelperez063
On January 1, 2019, Cullumber Company had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings 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.
Answers: 3
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On January 1, 2019, Cullumber Company had $1,000,000 of common stock outstanding that was issued at...
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