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The shareholders equity of Core Technologies Company on June 30, 2020, included the following:

Common stock, $1 par; authorized, 5 million shares; issued and outstanding, 2 million shares	$	2,000,000
Paid-in capitalexcess of par		8,000,000
Retained earnings		15,000,000

On April 1, 2021, the board of directors of Core Technologies declared a 10% stock dividend on common shares, to be distributed on June 1. The market price of Core Technologies common stock was $26 on April 1, 2021, and $36 on June 1, 2021. Required: Complete the below table to calculate the stock dividend. Prepare the journal entries to record the declaration and distribution of the stock dividend.

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Stock Dividend

General Journal

Complete the below table to calculate the stock dividend.

	Stock Dividend Number of outstanding shares Stock dividend percentage (%) % Number of shares to be issued Value of stock dividend

Journal entry worksheet

Record the declaration of the stock dividend.

Note: Enter debits before credits.

	Date General Journal Debit Credit April 01, 2021

Journal entry worksheet

Record the distribution of the stock dividend.

Note: Enter debits before credits.

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