Recording Stock Dividends and Stock Splits The records of Dixie Corporation showed the following balances on November 1, 2020. \begin{tabular}{|l|l|} \hline Common stock, $10 par, 60,000 shares outstanding & $600,000 \\ \hline Paid-in capital in excess of par & 204,000 \\ \hline Retained earnings & 400,000 \\ \hline \end{tabular} The fair value of its stock is $18 per share. Accounting for Stock Splits Prepare journal entries for the following three separate scenarios. a. The company declares (November 1, 2020) and issues (November 20, 2020) a 10\% stock dividend. c. The company declares (November 1, 2020) and issues (November 20, 2020) a stock split effected in the form of a 100\% stock dividend. - Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. - Note: If a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). Accounting for Stock Dividends Accounting for Stock Splits Prepare journal entries for the following three separate scenarios. a. The company declares (November 1, 2020) and issues (November 20, 2020) a 10\% stock dividend. c. The company declares (November 1, 2020) and issues (November 20, 2020) a stock split effected in the form of a 100% stock dividend. - Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. - Note: If a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). For each of the following three separate scenarios, (1) record the journal entry and (2) determine the total number of shares and the par value per share after the stock split. d. The company declares (November 1, 2020) and issues (November 20, 2020) a 2-for-1 stock split. e. The company declares (November 1, 2020) and issues (November 20, 2020) a 5-for-1 stock split. f. The company declares (November 1, 2020) and issues (November 20, 2020) a 3-for-1 reverse stock split. - Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. - Note: If a journal entry isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr. answers blank (zero). \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multirow{2}{*}{\multicolumn{2}{|c|}{ f. Nov. 1, 2020}} & \multicolumn{3}{|c|}{ Account Name } & \multirow[t]{2}{*}{ Dr. } & \multirow{2}{*}{\begin{tabular}{l} Cr. \\ 0 \end{tabular}} \\ \hline & & & & ^ & & \\ \hline & & & & & 0 & 0 \\ \hline & & To record declaration of & tock split. & & & \\ \hline & Nov. 20, 2020 & & & & 0 & 0 \\ \hline & & & & & 0 & 0 \\ \hline & & To record issuance of sto & ck split. & & & \\ \hline & Total number & f shares after stock split & 0 & & & \\ \hline & Par value per & hare after stock split & $ & & & \\ \hline \end{tabular}