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Prepare the required journal entries

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Question - The following data were taken from the balance sheet accounts of Mudaser Corporation on December 31, 2019.

Current assets Rs.540,000

Debt investments 624,000

Common stock (par value Rs.10) 500,000

Paid-in capital in excess of par 150,000

Retained earnings 840,000

Instructions - Prepare the required journal entries for the following unrelated items.

(a) A 5% stock dividend is declared and distributed at a time when the market price per share is Rs.39.

(b) A cash dividend of Rs 15000 is declared January 5, 2019, and paid January 25, 2019.

Reference no: EM132619627

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