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On June 30,2018,Ginger,Inc.showed the following data on the equity section of their balance sheet:
On July 1,2018,the company declared and distributed a 9% stock dividend.The market value of the stock at that time was $20 per share.Following this transaction,what is the balance of Common Stock?
Discharged
Released from a contractual obligation or debt; in legal terms, often refers to being released from bankruptcy restrictions or obligations.
Secured Debt
Debt backed by collateral to reduce the risk of lending, such as a mortgage.
Secured Creditor
A lender, seller, or any other person in whose favor there is a security interest.
Insurance Company
An organization that offers risk management in the form of insurance contracts, pledging to compensate for specific potential future losses in exchange for periodic payments.
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