Entries for Stock Dividends Senior Life Co. is an HMO for businesses in the Portland area. The follow the balance sheet of Senior Life Co.: Common stock (400,000 shares authorized; 6,000 shares issue $25 par, $150,000; Paid-In Capital in excess of par- common stock, $18,000; and Retained earning $1,200,000. The board of directors dedared a 1% stock dividend when the market price of the stock was $31 a share. Senior Life Co. reported no income or loss for the current year. in the Portland area. The following account balances appear If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdown. al. Journalize the entry to record the dedlaration of the dividend, capitalizing an amount equal to market value. Stock Dividends 180 Stock Dividends Distributable - ] ] Paid-In Capital in Excess of Par-Common Stock a2. Journalize the entry to record the issuance of the stock certificates Stock Dividends Distributable Common Stock 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. h 13-3 Exercises & Problems 180 Stock Dividends Distributable Paid-In Capital in Excess of Par-Common Stock a2. Journalize the entry to record the issuance of the stock certificates Stock Dividends Distributable Common Stock b. Determine the following amounts before the stock dividend was dedared: (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 follow 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 ing amounts after the stock dividend was declared and closing entries were