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Stock DividendsKaufman Company currently has 200,000 shares of $1 par common stock outstanding....

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Accounting

Stock DividendsKaufman Company currently has 200,000 shares of $1 par common stock outstanding. On March 15, a 10% stock dividend was declared to shareholders of record on April 2, distributable on April 14. Market value of the common stock was estimated at $8 per share.Question Content Area1.Prepare journal entries for the declaration and distribution of the 10% common stock dividend.Cash DividendsCommon StockPaid-In Capital in Excess of Par-Common StockStock DividendsStock Dividends DistributableCashCommon StockStock DividendsStock Dividends DistributableStock Dividends PayableCommon StockPaid-In Capital in Excess of Par-Common StockPreferred StockRetained EarningsStock DividendsCashCommon StockPaid-In Capital in Excess of Par-Common StockStock DividendsStock Dividends DistributableCashCommon StockPaid-In Capital in Excess of Par-Common StockStock Dividends DistributableStock Dividends Expense

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