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Answer Posted / vijesh
http://www.hpseb.com/manuals/Final%20Chart%20of%20Accounts%20Corrected%20up%20to%2013-3-2003.pdf
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Richman Corporation has 120,000 shares of $5 par value common stock outstanding. It declared a 10% stock dividend on June 1 when the market price per share was $12. The shares were issued on June 30. Instructions: Prepare the necessary entries for the declaration and payment of the stock dividend.
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