i. Declared a 2% stock dividend on common stock and a $1.25 quarterly cash dividend per share on...

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i. Declared a 2% stock dividend on common stock and a $1.25 quarterly cash dividend per share on preferred stock. On the date of declaration, the market value of
 the common stock was $40 per share. On the date of record, 85,000 shares of common stock had been issued, 6,500 shares of treasury common stock were held, and
 17,000 shares of preferred stock had been issued. Description Debit Credit Sock Dividends ____ 0 Cash Dividends ____ 0 Stock Dividends Distributable 0 ____ Pain in
 Capital in excess of Par Common stock 0 ____ Cash Divdends Payable 0 ____

Robert · Accepted Answer

Declared a 2% stock dividend on common stock and a $1.25 quarterly cash dividend per share on 
preferred stock. On the date of declaration, the market value of the common stock was $40 per share. 
On the date of record, 85,000 shares of common stock had been issued, 6,

i. Declared a 2% stock dividend on common stock and a $1.25 quarterly cash dividend per share on preferred stock. On the date of declaration, the market value of the common stock was $40 per share. On...

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