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Declaration and payment of the stock dividend

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Reference no: EM13299153

Wiiand Corporation has 50,000 shares of $10 par value common stock outstanding. It declares a 10% stock dividend on december 1 when the market value per share is $16.

The dividend shares are issued on December 31. Prepare the entries for the declaration and payment of the stock dividend.

Reference no: EM13299153

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