On January 1, 2018, Gerlach Inc had the following account balances in its shareholders' equity accounts Common stock, $1 par, 245,000 shares issued 245,000 Paid in capital excess of par, common 490,000 Paid in capital excess of par, preferred 175,000 Preferred stock, $100 par, 17,500 shares outstanding 1,750,000 Retained earnings 3,500,000 Treasury stock, at cost, 4,500 shares 22,500 During 2018, Gerlach Inc had several transactions relating to common stock January 15 Declared a property dividend of 100,000 shares of Slowdown Company (book value $11 5 per share, fair value $9 75 per share) February 17 Distributed the property dividend April 10 A 2 for 1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend The Fair value of the stock was $4 on this date Hint Debit Retained earnings July 18 Declared and distributed a 3 stock dividend on outstanding common stock fair value per share, $5 December 1 Declared a 50 cents per share cash dividend on the outstanding common shares December 20 Paid the cash dividend Required Record the above transactions (If no entry is required for a transaction event, select No journal entry required in the first account field ) 1 Declared a property dividend of 100,000 shares of Slowdown Company (book value $11 50 per share, market value $9 75 per share) Note Enter debits before credits Date General Journal Debit Credit January 15, 2018 2 Record the declaration of property dividend Note Enter debits before credits Date General Journal Debit Credit January 15, 2018 3 Distributed the property dividend Note Enter debits before credits Date General Journal Debit Credit February 17, 2018 4 A 2 for 1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend The market value of the stock was $4 on this date Note Enter debits before credits Date General Journal Debit Credit April 10, 2018 5 Declared and distributed a 3 stock dividend on outstanding common stock market value per share, $5 Note Enter debits before credits Date General Journal Debit Credit July 18, 2018 6 Declared a 50 cents per share cash dividend on the outstanding common shares Note Enter debits before credits Date General Journal Debit Credit December 01, 2018 7 Paid the cash dividend Note Enter debits before credits Date General Journal Debit Credit December 20, 2018

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On January 1, 2018, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 245,000 shares issued 245,000 Paid-in

On January 1, 2018, Gerlach Inc. had the following account balances in its shareholders' equity accounts.


Common stock, $1 par, 245,000 shares issued	245,000
Paid-in capital - excess of par, common	490,000
Paid-in capital - excess of par, preferred	175,000
Preferred stock, $100 par, 17,500 shares outstanding	1,750,000
Retained earnings	3,500,000
Treasury stock, at cost, 4,500 shares	22,500

During 2018, Gerlach Inc. had several transactions relating to common stock.

January	15:	Declared a property dividend of 100,000 shares of Slowdown Company (book value $11.5 per share, fair value $9.75 per share).
February	17:	Distributed the property dividend.
April	10:	A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The Fair value of the stock was $4 on this date. Hint: Debit Retained earnings.
July	18:	Declared and distributed a 3% stock dividend on outstanding common stock; fair value per share, $5.
December	1:	Declared a 50 cents per share cash dividend on the outstanding common shares.
December	20:	Paid the cash dividend.

Required: Record the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Declared a property dividend of 100,000 shares of Slowdown Company (book value $11.50 per share, market value $9.75 per share).

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
January 15, 2018

Record the declaration of property dividend.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
January 15, 2018

Distributed the property dividend.

Note: Enter debits before credits.

Date	General Journal	Debit	Credit
February 17, 2018

A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The market value of the stock was $4 on this date.

Note: Enter debits before credits.