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On March 1, 2019, Baltimore Corporation had 45,000 shares of common stock outstanding with a par...

On March 1, 2019, Baltimore Corporation had 45,000 shares of common stock outstanding with a par value of $5 per share. On March 1, Baltimore Corporation authorized a 15% stock dividend when the market value was $18 per share. Use this information to calculate the amount either (debited) or credited to retained earnings. Enter as a negative number if retained earnings is debited and a positive number if retained earnings is credited.

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Answer #1
Shares of common stock outstanding 45000
X Market value per share 18
X Stock dividend % 15%
Amount debited to retained earnings -121500 =45000*18*15%
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