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Can anyone answer this for me? EX 12-10 Entries for stock dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The
Can anyone answer this for me?
EX 12-10 Entries for stock dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear Obja on Healthy Life's balance sheet Common stock 3,000,000 shares authorized 2,200,000 shares issued), $15 par, $33,000,000, Paid-in capital in excess of par-common stock, $9,000,000, and Retained earn ings, $89,550,000. The board of directors declared a 5% stock dividend when the market price of the stock was $18 a share. Healthy Life reported no income or loss for the current year. . Journalize the entries to record (1) the declaration of the dividend, capitalizing an amount equal to market value, and (2) the issuance of the stock certificates b. Determine the following amounts before the stock dividend was declared: (1) total paid in capital, (2) total retained earnings, and (3) total stockholders' equity c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year (1) total paid.in capital, (2) total retained earnings and (3) total stockholders' equity GIVEN: shares per share Common stock shares outstanding Common stock par value per share Paid in capital in excess of par Retained earnings NOTE: less than 255 so therefore a small stock dividend. BOD declares a 5% stock dividend per share Market value of stock on date of declaration -0 DR Date of Declaration CR Stock dividends for retained earnings) Stock dividends distributable Paid in capital in excess of par-common stock 0 CP EX 12-10 Entries for stock dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear Obja on Healthy Life's balance sheet Common stock 3,000,000 shares authorized 2,200,000 shares issued), $15 par, $33,000,000, Paid-in capital in excess of par-common stock, $9,000,000, and Retained earn ings, $89,550,000. The board of directors declared a 5% stock dividend when the market price of the stock was $18 a share. Healthy Life reported no income or loss for the current year. . Journalize the entries to record (1) the declaration of the dividend, capitalizing an amount equal to market value, and (2) the issuance of the stock certificates b. Determine the following amounts before the stock dividend was declared: (1) total paid in capital, (2) total retained earnings, and (3) total stockholders' equity c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year (1) total paid.in capital, (2) total retained earnings and (3) total stockholders' equity GIVEN: shares per share Common stock shares outstanding Common stock par value per share Paid in capital in excess of par Retained earnings NOTE: less than 255 so therefore a small stock dividend. BOD declares a 5% stock dividend per share Market value of stock on date of declaration -0 DR Date of Declaration CR Stock dividends for retained earnings) Stock dividends distributable Paid in capital in excess of par-common stock 0 CP Step by Step Solution
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