Fark Tart Limited was a corporation that made hair growth stimulants. The company had 425,000 shares of common stock authorized; 350,000 shares issued; 75,000 shares unissued; 250,000 shares outstanding; and 100,000 shares of Treasury Stock. Par value was $10 per share. In the month of February 2020, the company had the following transactions regarding their stock: February 1: Cash dividends of $.50 per share were declared. February 5: A 10% stock dividend was declared. Fair market price of the stock was $15 per share. February 10: Recipients of the cash dividends and stock dividends were determined. February 15: Cash dividends were paid. February 20: The stock dividend was given out. December 31: All accounts were closed out (year-end). Required: Record the transactions listed above.

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.