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2. (22 points) The following account balances show up in the stockholders' equity section of Edgeworthia Inc. on January 1, 2021: Common stock, $2 par,

image text in transcribed 2. (22 points) The following account balances show up in the stockholders' equity section of Edgeworthia Inc. on January 1, 2021: Common stock, $2 par, 1,000,000 shares authorized, 310,000 shares issued Paid-in capital excess of par, common Paid-in capital excess of par, preferred Preferred stock, $50 par, 10,000 shares outstanding Retained earnings Treasury stock, at cost, 10,000 shares $ 620,000 400,000 100,000 500,000 2,000,000 50,000 During 2021, Edgeworthia Inc. had several transactions relating to stockholders' equity. Feb 5 Declared a property dividend of 100,000 shares of Wisteria Co. Mar 17 May 10 (book value $11 per share, market value $8 per share). Distributed the property dividend. A4-for-3 stock split was declared and distributed on outstanding common stock and effected in the form of a _?_stock dividend (hint: calculate additional stocks issue?%). The market value of the stock was $5 on this date. Aug 18 Declared and distributed a 4% stock dividend on outstanding common stock; market value per share, $6. Nov 1 Declared a 50 cents per share cash dividend on the outstanding common shares. Nov 20 Paid the cash dividend. Required: Record the above transactions and events in journal entry format

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