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  3. part c on january 1, 2021, aynur corporation had $

Part C On January 1, 2021, Aynur Corporation had $1,000,000 of common stock outstanding that...

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Question

Accounting

Part C

On January 1, 2021, Aynur Corporation had $1,000,000 of common stock outstanding that was issued at par and retained earnings of $750,000. The company issued 30,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year.

Instructions

Journalize the declaration of a 15% stock dividend on December 10, 2021 using the following assumption.

1. Par value is $10 and market value is $16.

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