The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: Common stock:

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The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: Common stock: Issued and outstanding100,000 shares

Par value per share $10

APIC - Common $1,000,000

Retained earnings $3,000,000

On December 31, 2020 when the market price was $23.00 per share, XYZ declared 10,000 shares in stock dividends

Prepare the journal entry on the date of declaration.

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Introduction to Corporate Finance

ISBN: 978-0324657937

2nd edition

Authors: Scott B. Smart, William L Megginson

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Posted Date: Mar 06, 2022 05:49 AM

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The equity section of the balance sheet for XYZ Corporation as of 12/31/2020 appears below: Common stock:

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Number of share given in stock dividend 10000 Market price per share 23 Common stock divid... View the full answer

Introduction to Corporate Finance

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