Prepare the journal entries for the company, Accounting Basics

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Prepare the journal entries for the company

Problem

Pina Colada Corporation has 480,000 common shares outstanding. The corporation declares a 7% stock dividend at the common shares' fair value of $25 per share. (Their carrying value is $19 per share.)

Prepare the journal entries for the company for both the date of declaration and the date of distribution.

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Accounting Basics: Prepare the journal entries for the company

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Accounting Basics: Prepare the journal entries for the company

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