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14 Mar 2019

What is par value? Does it have anything to do with the market value of the stock?

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Deanna Hettinger
Deanna HettingerLv2
16 Mar 2019

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On January 1, 2010, Gant Corporation had $1,500,000 of common stock outstanding that was issued at par and retained earnings of $750,000. The company issued 30,000 shares of common stock at par on July 1 and earned net income of $400,000 for the year. Journalize the declaration of a 15% stock dividend on December 10, 2010, for the following two independent assumptions.a) Par value is $10 and market value is $15. b) Par value is $5 and market value is $8.

Does the executor of the estate have to do anything to use theprimary valuation date of inherited property?

Ravonette Corporation issued 319 shares of $12 par value commonstock and 119 shares of $49 par value preferred stock for a lumpsum of $15,381. The common stock has a market price of $20 pershare, and the preferred stock has a market price of $90 pershare.
Prepare the journal entry to record the issuance.

Be detail pls!

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