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Minnick Corp

Question 14

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Minnick Corp. has 900,000 no par common shares authorized, of which 400,000 shares are outstanding. The average carrying value of the shares is $ 6 per share. When the market value was $ 10 per share, Miinick declared a 10% stock dividend. What entry, if any, should Minnick make to record this dividend declaration? Minnick Corp. has 900,000 no par common shares authorized, of which 400,000 shares are outstanding. The average carrying value of the shares is $ 6 per share. When the market value was $ 10 per share, Miinick declared a 10% stock dividend. What entry, if any, should Minnick make to record this dividend declaration?

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