The ABC Company offers stock subscriptions to its employees, who elect to purchase 20,000 shares of common stock with no par value, for a total of $100,000. They record the following entry Stock Subscriptions Receivable Common Stock Subscribed 100,000 100,000 One month later the employees take advantage of the subscriptions. Record the transactions. (4 Marks) Particulars Dr Cr JE. 3 Friedberg Corporation's shareholders' equity section at December 31, 2001 appears below: Shareholders' equity Common shares, no par value, 60,000 shares issued Retained earnings Total shareholders' equity $750,000 150,000 $900,000 On June 30, 2002, the board of directors of Friedberg Corporation declared a 10% stock dividend, payable on July 31, 2002, to shareholders of record on July 15, 2002. The fair market value of Friedberg Corporation's shares on June 30, 2002, was $15 per share. On December 1, 2002, the board of directors declared a 2-for-1 stock split effective December 15, 2002. Friedberg Corporation's shares were selling for $20 on December 1, 2002, before the stock split was declared. Net income for 2002 was $190,000 and there were no cash dividends declared. Record the transactions for the stock dividend. (4 Marks) Date June 30 July 31 Particulars Dr Cr