(Entries for Stock Dividends and Stock Splits) The stockholders’ equity accounts of G.K.

Chesterton Company have the following balances on December 31, 2007.

Chesterton Company have the following balances on December 31, 2007.
Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000 Paid-in capital in excess of par 1,200,000 Retained earnings 5,600,000 Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37.
Instructions Prepare the appropriate journal entries for each of the following cases.

(a) A stock dividend of 5% is declared and issued.

(b) A stock dividend of 100% is declared and issued.

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