Determine the amounts after the stock
Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity.
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On January 2, Fred Critchfield paid $18,000 for 900 shares of the common stock of Acme Company. Mr. Critchfield received an $0.80 per share dividend on the stock at the end of each year for four years.
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Determine the amounts after the stock dividend was declared and closing entries were recorded at the end of the year:total paid-in capital, total retained earnings, and total stockholders' equity.
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