Journalize the declaration of stock dividend on december

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Reference no: EM13257048

On January 1, 2008, Deweese Corporation had $ 1,000,000 of common stock outstanding that was issued at par. It also hadretained earnings of $ 750, 000. The company issued 40, 000 sharesof common stock at par on july 1and earned net income of $400, 000for the year

Instruction:

Journalize the declaration of a 15% stock dividend on December10, 2008, for the following independent assumptions

Par value is $10 and market value is $18
Par value is $5 and market value is $20

Reference no: EM13257048

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