Curre On January 1, 2022, Sunland Corporation had $1,270,000 of common stock outstanding that was issued at par. It also had retained earnings of $749,000. The company issued 43,500 shares of common stock at par on July 1 and earned net income of $390,000 for the year.

Curre On January 1, 2022, Sunland Corporation had $1,270,000 of common stock outstanding that was issued at par. It also had retained earnings of $749,000. The company issued 43,500 shares of common stock at par on July 1 and earned net income of $390,000 for the year.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Journalize the declaration of a 14% stock dividend on December 10,2022 for the following independent assumptions: A) par value is $10, and market price is $19 B) Par value is $5, and market price is $20

Curre
On January 1, 2022, Sunland Corporation had $1,270,000 of common stock outstanding that was issued at par. It also had retained
earnings of $749,000. The company issued 43,500 shares of common stock at par on July 1 and earned net income of $390,000 for the
year.

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