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For each of the following independent situations,present the necessary journal entry:
(a)Declared and distributed a 10% share dividend on 500,000 shares of common shares outstanding.Market price per share on this date was $15.
(b)With 250,000 shares of common shares outstanding,declared and distributed a 2 for 1 share split.
(c)Declared and distributed a 30% share dividend on 200,000 shares of common shares outstanding.Market price per share on this date was $14.
Ethanol
A biofuel produced from various plant materials, commonly used as a renewable alternative to gasoline.
Market
A place or situation in which buyers and sellers engage in the exchange of goods and services.
Pareto Efficiency
A rephrased definition: An economic condition where resources cannot be redistributed to benefit someone without adversely affecting others.
Golf Club
A facility equipped for playing golf, often including a course with 18 holes and a clubhouse.
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