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Entries for Stock Dividends Madrid Corporation has 30,000 shares of $70 par common stock outstanding. On June 8, Madrid Corporation declared a 3% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $82 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. If no entry is required, select "No Entry Requid" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. June 8 July 13 Aug. 12 18

Entries for Stock Dividends Madrid Corporation has 30,000 shares of $70 par common stock outstanding. On June 8, Madrid Corporation declared a 3% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $82 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. If no entry is required, select "No Entry Requid" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. June 8 July 13 Aug. 12 18

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Entries for Stock Dividends Madrid Corporation has 30,000 shares of $70 par common stock outstanding. On June 8, Madrid Corporation declared a 3% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $82 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. If no entry is required, select "No Entry Requid" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. June 8 18 July 13 Aug. 12
Transcribed Image Text:Entries for Stock Dividends Madrid Corporation has 30,000 shares of $70 par common stock outstanding. On June 8, Madrid Corporation declared a 3% stock dividend to be issued August 12 to stockholders of record on July 13. The market price of the stock was $82 per share on June 8. Journalize the entries required on June 8, July 13, and August 12. If no entry is required, select "No Entry Requid" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank. June 8 18 July 13 Aug. 12
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