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Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 125,000 shares of no-par common stock (with a

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Entries for Issuing No-Par Stock On May 15, Helena Carpet Inc., a carpet wholesaler, issued for cash 125,000 shares of no-par common stock (with a stated value of $5) at $20, and on June 30, it issued for cash 10,000 shares of preferred stock, $80 par at $87 a. Journalize the entries for May 15 and June 30, assuming that the common stock is to be credited with the stated value If an amount box does not require an entry, leave it blank 15 Cash Common Stock Paid-In Capital in Excess of Stated Value-Common Stock June 30 Cash Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock Feedback Check My Work Recall that a separate account is used for recording the amount of each class of stock issued to investors in a corporation. Recall the definition of legal capital and what affect that has on recording the sale of stock. Learning Objective 2 b. What is the total amount invested (total paid-in capital) by all stockholders as of June 30? Healthy Lire CO. Is an HMO Tor businesses ln the Fresho area. The TolloWing account balanices appear on Healthy Life's balance sheet: Common stock (340,000 shares authorized;6,000 shares issued), $50 par, $300,000; Paid-In Capital in excess of par-common stock, $30,000; and Retained earnings, $2,400,000. The board of directors declared a 2% stock dividend when the market price of the stock was $69 a share. Healthy Life reported no income or loss for the current year If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required from the dropdown. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. Stock Dividends Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock Feedback Check My Work Recall that a stock dividend affects only stockholders' equity. Learning Objective 3. a2. Journalize the entry to record the issuance of the stock certificates. Stock Dividends Distributable Common Stock Feedback Check My Work Partially correct 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. Total paid-in capital Total retained earnings 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. Total paid-in capital Total retained earnings Total stockholders' equity Feedback Y Check My Work Identify the balances of all the equity accounts before the stock dividend. What affect does a stock dividend have on the equity accounts? What account(s) would increase and what account(s) would decrease

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