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Question - Malave's Corporation declares a 12% stock dividend on its 85,000 shares of $7 par value common stock. The current fair market value of its stock is $15 per share.
Required -
Record the entry on the declaration date.
Record the journal entry when Malave's Corporation issues the dividend shares.
Prepare consolidating worksheets for the income statement for the first quarter of 2012, the retained earnings for the first quarter of 2012
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