Stock Dividends and Stock Splits

Lance's common stock is selling for $13 per share on December 31 . How much would Lance have reported for total assets and retained earnings on December 31 if the firm had issued a 15% stock dividend on December 31 ? Total assets $ Retained earnings $ Feedback Check My Work 2. Consider how the debits and credits to the accounts affected in the journal entry necessary to record the transactions affect total assets and retained earnings. 3. Conceptual Connection: How much would Lance have reported for total assets and retained earnings on December 31 if the firm had effected a 2 -for-1 stock split on December 31 ? Total assets $ Retained earnings $ Is a journal entry needed to record the stock split