1000
A company with 100,000 authorized shares of $4 par common stock issued 40,000 shares at $8. Subsequently, the company declared a 2% stock dividend on a date when the market price was $11 per share. Journalize the entries to record the declaration of the dividend and the issuance of stock certificates Company X earned a net income of $100,000 to be divided as follows: Partner A receives a monthly salary allowance of $6,000. Partner B receives a monthly salary allowance of $4,000. Interest of 10% on each partner's capital balances. Capital, Partner A $150,000 Capital, Partner B $100,000 Remaining income divided equally.