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Jones Co. had 50,000 shares of $5 par value common stock outstanding at January 1....

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Accounting

Jones Co. had 50,000 shares of $5 par value common stock outstanding at January 1. On August 1, Jones declared a 5% stock dividend followed by a two-for-one stock split on September 1. What amount should Jones report as common shares outstanding at December 31?
A. 50,000
B. 52,500
C. 105,000
D. 100,000

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