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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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To reduce its stock price, Shriver Food Systems, Incorporated, declared and issued a 100 percent stock dividend. The company has 800,000 shares authorized and 200,000 shares outstanding. The par value of the stock is $1 per share and the market value is $100 per share. Prepare the
Record the declaration of a 100 percent stock dividend on the 200,000 shares of stock outstanding with a par value of $1 per share and a market value of $100 per share.
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