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A Corporation Has 10,000 Shares of $5 Par Common Stock

Question 169

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A corporation has 10,000 shares of $5 par common stock authorized but only 8,000 shares issued and outstanding.In the space provided,indicate the effect of the following dividend transactions (shown in chronological order)on each account listed by writing the amount and whether the account would be debited or credited.For any instances where there is no effect on the account,place N/A in the space.
 Paid-in  Comunon  Capital in  Retained  Dividends  Transactions:  Stack  Excess of Par  Earmings  Payable  Declared a cash dividend totaling $ 4,000  Paid the cash dividend declared previously Declared and paid a 10% stock dividend when the market price of the stock was $8  Declared a 3-for-1 stock split \begin{array}{|l|l|l|l|l|}\hline&&\text { Paid-in }\\\hline& \text { Comunon } & \text { Capital in } & \text { Retained } & \text { Dividends } \\\hline \text { Transactions: } &\text { Stack } & \text { Excess of Par } & \text { Earmings } & \text { Payable } \\\hline \text { Declared a cash dividend totaling \$ 4,000 } &\\\hline \text { Paid the cash dividend declared previously } &\\\hline \text {Declared and paid a 10\% stock dividend } &\\ \text {when the market price of the stock was \$8 } &\\\hline \text { Declared a 3-for-1 stock split } &\\\hline\end{array}

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