Common stock outstanding issued at par

Reference no: EM13159438

On January 1, 2010, Gant Corporation had $1,500,000 of common stock outstanding that was issued at par and retained earnings of $750,000. The company issued 30,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year.

Journalize the declaration of a 15% stock dividend on December 10, 2010, for the following two independent assumptions.

Reference no: EM13159438

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