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Please show work in excel. E15-14 (Entries for Stock Dividends and Stock Splits) The stockholders' equity accounts of G.K. Chesterton Company have the following balances
Please show work in excel.
E15-14 (Entries for Stock Dividends and Stock Splits) The stockholders' equity accounts of G.K. Chesterton Company have the following balances on December 31, 2014. Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000 Paid-in capital in excess of par-common stock 1,200,000 Retained earnings 5,600,000 Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37. Instructions Prepare the appropriate journal entries for each of the following cases. (a) A stock dividend of 5% is declared and issued. (b) A stock dividend of 100% is declared and issued. (c) A 2-for-1 stock split is declared and issuedStep by Step Solution
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