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Journalize the declaration of stock dividend on december

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Question - On January 1, 2020, Sandhill Corporation had $1,125,000 of common stock outstanding that was issued at par. It also had retained earnings of $750,000. The company issued 40,500 shares of common stock at par on July 1 and earned net income of $395,000 for the year.

Journalize the declaration of a 15% stock dividend on December 10, 2020, for the following independent assumptions.

a. Par value is $10, and market price is $18.

b. Par value is $5, and market price is $20.

Reference no: EM132156318

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