On January 1, 2022, Frontier Corporation had $1,000,000 of common stock outstanding that was issued at...

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On January 1, 2022, Frontier Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year. Instructions Journalize the declaration of a 15% stock dividend on December 10, 2022, 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. On January 1, 2022, Frontier Corporation had $1,000,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year. Instructions Journalize the declaration of a 15% stock dividend on December 10, 2022, 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.

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a Par value is 10 and market price is 18 To journalize the declaration of a 15 stock dividend on Dec... View the full answer