Gallegos Industries declares a 10% stock dividend on its $35 par common stock when 50,000...
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Accounting
Gallegos Industries declares a 10% stock dividend on its $35 par common stock when 50,000 shares were outstanding. The market price was $50 per share. Complete the following table to reflect the changes as a result of the stock dividend.
Before Dividend After Dividend
Paid in Capital Common Stock, $35 par $1,750,000
Paid in Capital in Excess Of Par Value $0
Total Paid in Capital $1,750,000
Retained Earnings $350,000
Total Stockholder Equity $2,100,000
Outstanding Shares $50,000
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