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The shareholders' equity of Core Technologies Company on June 30, 2020, included the following: Common stock, $1 par; authorized,...

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The shareholders' equity of Core Technologies Company on June 30, 2020, included the following: Common stock, $1 par; authorized, 8 million shares; issued and outstanding, 4 million shares Paid-in capital-excess of par Retained earnings $ 4,000,000 16,000,000 17,000,000 On April 1, 2021, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies' common stock was $38 on April 1, 2021, and $48 on June 1, 2021. Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend. General Stock Dividend Journal Complete the below table to calculate the stock dividend. Stock Dividend Number of outstanding shares Stock dividend percentage (%) Number of shares to be issued Value of stock dividend Prepare the journal entries to record the declaration and distribution of the stock dividend. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list X: > Record the declaration of the stock dividend. 2 Record the distribution of the stock dividend. Credit

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Intermediate Accounting

Intermediate Accounting

ISBN: 978-0077400163

6th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: July 23, 2020 16:26:42
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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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