A Corporation Reported the Following Information at December 31, 2019

question 43

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A corporation reported the following information at December 31, 2019: ​
A)On December 31, 2019, the board of directors issues a 3-for-1 stock split. What impact will the split have on the stock's par value?
B)What journal entry is required to record the split?
C)Record the declaration of a cash dividend of $1 per share on January 10, 2020. The dividend will be paid on January 31, 2020 to shareholders of record on January 24, 2020.

• A)On December 31, 2019, the board of directors issues a 3-for-1 stock split. What impact will the split have on the stock's par value?
• B)What journal entry is required to record the split?
• C)Record the declaration of a cash dividend of $1 per share on January 10, 2020. The dividend will be paid on January 31, 2020 to shareholders of record on January 24, 2020.

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Georgia Court of Appeals

The intermediate appellate court in Georgia, responsible for reviewing decisions made by lower courts in civil and criminal cases.

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The area of law that deals with civil wrongs, not arising out of contractual obligations, for which the injured party may receive damages or equitable relief.

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