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How calculate the amount credited to retained earnings

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Reference no: EM132593236

Question 1: On March 1, 2019, Baltimore Corporation had 40,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 20% stock dividend when the market value was $18 per share. Use this information to calculate the amount either (debited) or credited to retained earnings. Enter as a negative number if retained earnings is debited and a positive number if retained earnings is credited.

Reference no: EM132593236

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