BusinessCourse Th Chapter 11 Homework Return to course Support Maddie McCracken box@gnal.com 328 Question 8 Partially correct Mark 8.33 out of 10.00 Remove flag eBook Print Accounting for Large Stock Dividend and Stock Split Watts Corporation has 25,000 shares of $12 par value common stock outstanding and retained earnings of $780,000. The company declares a 100% stock dividend. The market price at the declaration is $19 per share. a. Prepare the general journal entry for the stock dividend. If no journal entry is required, select "No entry" for your answers. confirm your identity. General Journal Description Debit Retained earnings Common stock Credit b. Assume that the company splits its stock two shares for one share and reduces the par value from $12 to $6 rather than declaring a 100% stock dividend. How does the accounting for the stock split differ from the accounting for the 100% stock dividend? Prepare the journal entry for the stock split. If no journal entry is required, select "No entry" for your answers. cause you interacted with Chegg services Please do not n General Journal Description Debit No entry No entry 00 Credit 0~ 0