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Exercise 15-14 The stckholders equity accounts of Flounder Company have the following balances on December 31, 2017 Common stock, $10 par, 304,000 shares issuad and
Exercise 15-14 The stckholders equity accounts of Flounder Company have the following balances on December 31, 2017 Common stock, $10 par, 304,000 shares issuad and outstanding Paid-in capital in excess of par-common stock Reteined eernings 3,040,000 1,290,000 5,340,000 Shares of Flounder Company stock are currently selling on the Midwest Stock Exchange at $40 Prepare the appropriate journal entries for each af the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (a) A stock dividend of 7% is (1) declared and (2) issued. (b) A stock dividend of 100% is (1) declared and (2) issued. (e) A2for-1 stock split is (1) declared ad (2) issued No. Account Titles and Explanation Debit Credit a) (2)
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