hes for block ofvidends Advanced Life Co. is an HMO for businesses in the Albuquerque area. The following account balances appear on the balance sheet of Advanced Ufe Co. Common stack (200,000 shares authorized; 8.000 issued), $25 par, $200,000; Paid-in capital in excess of par- common stock, $40,000; and Retained earnings. $2,000,000. The board of directors declared a 1% stack dividend when the market price of the stock was $31 a share. Advanced Life Co. reported no income or loss for the current year, al. Journalize the entry to record the declaration of the dividend, capitaluing an amount equal to market value. Ir an amount box does not require an entry, leave it blank Stock Dividends Stock Dividends Distributable 2,400 2000 East-In Capital in Excess of Par-Common Stock Check My W Recall that a stock dividend affects only stockholders' equity a2. Journalize the entry to record the issuance of the stock certificates. If an amount box does not require an entry, leave it blank. Stock Dividends Distributable Common Stack 2,000 2.000 Feedback What is the company giving to the stockholders? b. Determine the following amounts before the stack dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Previous Next