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Journalize Warrior declaration of stock dividend on July

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Reference no: EM132934512

Question - Warrior Corp. has 26,000 common shares outstanding. Warrior distributes a 10 percent stock dividend when the market value of its shares is $24.00 per share.

1. Journalize Warrior's declaration of the stock dividend on July 31, 2020, and the distribution of the stock dividend on August 30, 2020. Explanations are not required.

2. What is the overall effect of the stock dividend on Warrior's total assets? On total shareholders' equity?

Reference no: EM132934512

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