Entries for Stock Dividends Advanced Life Co. is an HMO for businesses in the Albuquerque area. The following account balances appear on the balance sheet of Advanced Life Co.: Common stock (290,000 shares authorized; 5,000 shares issued), $100 par, $500,000; Paid-in capital in excess of par- common stock, $100,000; and Retained earnings, $5,500,000. The board of directors declared a 2% stock dividend when the market price of the stock was $132 a share. Advanced Life Co. reported no income or loss for the current year. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. If an amount box does not require an entry, leave it blank. a2. Journalize the entry to record the issuance of the stock certificates. If an amount box does not require an entry, leave it blank. 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. Entries for Stock Dividends Advanced Life Co. is an HMO for businesses in the Albuquerque area. The following account balances appear on the balance sheet of Advanced Life Co.: Common stock (290,000 shares authorized; 5,000 shares issued), $100 par, $500,000; Paid-in capital in excess of par- common stock, $100,000; and Retained earnings, $5,500,000. The board of directors declared a 2% stock dividend when the market price of the stock was $132 a share. Advanced Life Co. reported no income or loss for the current year. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. If an amount box does not require an entry, leave it blank. a2. Journalize the entry to record the issuance of the stock certificates. If an amount box does not require an entry, leave it blank. 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. Yard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 9,700 shares of its common stock at $31 per share. On June 14,6,100 of the reacquired shares were sold at $34 per share, and on November 23,2,300 of the reacquired shares were sold at $33. a. Journalize the transactions of January 31 , June 14, and November 23. If an amount box does not require an entry, leave it blank. b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year? $ c. What is the balance in Treasury Stock on December 31 of the current year? $ d. How will the balance in Treasury Stock be reported on the balance sheet