Company Z has 8 million shares of common shares authorized with a par value of $1 and a market price of $72.There are 4 million outstanding shares.Prepare the journal entry and show the effect on assets,liabilities and shareholders' equity if the company declares and distributes a 10% stock dividend.

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The Answer of Company Z has 8 million shares of common shares authorized with a par value of $1 and a market price of $72.There are 4 million outstanding shares.Prepare the journal entry and show the effect on assets,liabilities and shareholders' equity if the company declares and distributes a 10% stock dividend.

Company Z Has 8 Million Shares of Common Shares Authorized