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Find the total dollar amount credited to additional paid

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Question - On August 1, 2018, Towson Corp., declared a 5% stock dividend on its common stock when the market value of the common stock was $20 per share. The balance in the common stock account, before the stock dividend was declared, was $1,000,000. The par value of all common stock is $10. Find the total dollar amount credited to additional paid in capital - common stock on August 1, 2018?

Reference no: EM132592814

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