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The Blue Sky Company's board of directors authorized a 10% common stock dividend on March 31 to be distributed to shareholders on April 30. At the time of the authorization, the company had 4,000,000 shares of common stock outstanding with a par value per share of $1, a market value per share of $45, and a book value of $30 per share. The shares were distributed on April 30.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M993345

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