The equity accounts of Lawrence Group have the following balances on December 31, 2022. Share CapitalOrdinary, 10
Question:
The equity accounts of Lawrence Group have the following balances on December 31, 2022.
Share Capital—Ordinary, €10 par, 200,000 shares issued and outstanding .............. €2,000,000
Share Premium—Ordinary ................................................................................................... 1,200,000
Retained Earnings .................................................................................................................. 5,600,000
Shares of Lawrence Group are currently selling at €37.
Instructions
Prepare the appropriate journal entries for each of the following cases.
a. A share dividend of 5% is declared and issued.
b. A share dividend of 100% is declared and issued.
c. A 2-for-1 share split is declared and issued.
Step by Step Answer:
Intermediate Accounting IFRS
ISBN: 9781119607519
4th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield