Redfern Corporation has 400,000 shares of $4 par value common stock issued and outstanding. Record the following
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Redfern Corporation has 400,000 shares of $4 par value common stock issued and outstanding. Record the following entries into the general journal for Redfern:
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202X July Aug. 2 Declared a cash dividend of $0.75 per share. 1 Paid the $0.75 cash dividend to the stockholders. 4 Declared a 7% stock dividend. The current market price is $12 per share. Issued the stock dividend declared on August 4. Sept. 12 Oct. 1 Declared a 10% stock dividend. The current market price is $15 per share. 2 Issued the stock dividend declared on October 1. Nov.
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Date 202X July Aug Account Titles and Description 2 Retained Earni...View the full answer
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Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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A journal entry is an act of keeping or making records of any transactions either economic or non-economic. Transactions are listed in an accounting journal that shows a company\'s debit and credit balances. The journal entry can consist of several recordings, each of which is either a debit or a credit
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