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Boehm Rest Company has 30,000 shares of its $1 par value common stock outstanding. Record in journal form the following transactions as they relate to the companys common stock:

July 17 Declared a 10 percent stock dividend on common stock to be distributed on August 10 to stockholders of record on July 31. Market value of the stock was $5 per share on this date.

Aug. 10 Distributed the stock dividend declared on July 17.

Sept. 1 Declared a $0.50 per share cash dividend on common stock to be paid on September 16 to stockholders of record on September 10.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9960448

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