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Compute how did the transaction affect shareholders equity

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Reference no: EM132493212

The stockholders' equity section of the December 31, 2019 balance sheet for Sampson Corporation is shown below:

Common Stock, $10 par, 100,000 shares authorized, 40,000 shares issued and outstanding $400,000

Paid in Capital in Excess of Par 100,000

Retained Earnings 300,000

Total $800,000

Point 1:Assume that on March 31, 2020, Sampson Corporation declared and issued a 5% stock dividend. The market price of the stock on March 31 was $35 per share. The average market price for the first quarter of 2020 was $30. prepare any necessary journal entries to record the issuance of the dividend.

Question 1: How did the above transaction affect shareholders' equity?

Reference no: EM132493212

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