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Blossom Hovercraft Inc. reported the following shareholders' equity: Preferred shares, 100,000 shares authorized, ...

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Accounting

Blossom Hovercraft Inc. reported the following shareholders' equity:
Preferred shares, 100,000 shares authorized,
$427,500
23,600 shares issued and outstanding
Common shares, unlimited shares authorized,
794.000
239,000 shares issued and outstanding
1.221.500
Total share capital
2,397,500
Retained earnings
$3.619.000
Total shareholders' equity
The board of directors declared a 5% common stock dividend when the market price of the shares was $20 per share. Prepare the necessary journal entries to record the declaration and distribution of the stock dividend. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry for the account titles and enter O for the amounts.)
Account Titles and Explanation
Debit
Credit
(To record declaration of stock dividend.)
(To record distribution of stock dividend.)
What effect did the stock dividend have on:
L total assets
total liabilities
total share capital
iv. total shareholders' equity

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