Heller Companys balance sheet includes total assets of $3,872,000 and the following equity account balances at December 31, 2019:

Heller Companys

Balance Sheet (Partial)

December 31, 2019

1	Common stock, $5 par, 10,000 shares issued and outstanding	$95,000.00
2	Additional paid-in capitalcommon stock	162,000.00
3	Total capital stock	$257,000.00
4	Retained earnings	411,000.00
5	Total stockholders equity	$668,000.00

Hellers common stock is selling for $23 per share on December 31, 2019.

Required:

1.

Determine how much Hellers Products would have reported for total assets and retained earnings on December 31, 2019, if the firm had declared and paid a $22,000 cash dividend on December 31, 2019. Prepare the journal entry for this cash dividend.

2.

Determine how much Heller would have reported for total assets and retained earnings on December 31, 2019, if the firm had issued a 12% stock dividend on December 31, 2019. Prepare the journal entry for this stock dividend.

3.

Conceptual Connection: How much would Heller have reported for total assets and retained earnings on December 31, 2019, if the firm had effected a 2-for-1 stock split on December 31, 2019? Is a journal entry needed to record the stock split?

Chart Of Accounts

CHART OF ACCOUNTS

Heller Companys

General Ledger

	ASSETS
111	Cash
112	Petty Cash
121	Accounts Receivable
123	Allowance for Doubtful Accounts
124	Notes Receivable
125	Supplies
126	Prepaid Insurance
127	Prepaid Rent
128	Inventory
129	Interest Receivable
130	Investment
131	Land
132	Buildings
133	Equipment
134	Furniture
135	Trucks
139	Accumulated Depreciation
141	Leased Assets

	LIABILITIES
211	Accounts Payable
212	Utilities Payable
213	Insurance Payable
214	Wages Payable
215	Rent Payable
221	Interest Payable
223	Income Taxes Payable
231	Dividends Payable
232	Unearned Sales Revenue
233	Unearned Rent Revenue
241	Bonds Payable
251	Notes Payable

	EQUITY
311	Common Stock
312	Additional Paid-In Capital-Common Stock
313	Preferred Stock
314	Additional Paid-In Capital-Preferred Stock
315	Treasury Stock
316	Additional Paid-In Capital-Treasury Stock
321	Retained Earnings
331	Dividends