The shareholders' equity accounts of Abbasi Inc. have the following balances on December 31, 2020: 

Common shares,400,000 shares issued and outstanding...................................$10,000,000 

Contributed surplus.............300,000 

Retained earnings...........42,400,000 

Common shares are currently trading on the Toronto Stock Exchange at $59. 

Instructions 

Prepare the appropriate journal entries for each of the following cases. 

a. A stock dividend of 10% is declared and issued at the fair value of the shares. 

b. A stock dividend of 100% is declared and issued at the fair value of the shares. 

c. A 2-for-1 stock split is declared and issued.