Cullumber Company has 9 0 , 0 0 0 common shares outstanding. Because it wants to retain
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Question:
Cullumber Company has common shares outstanding. Because it wants to retain its cash for other purposes, the companydecided to issue stock dividends to its shareholders. The market price of each Cullumber Company share was $
Prepare the journal entry if instead of declaring the stock dividend the company decides to split its shares twoforone
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