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The capital accounts for Alston Market on June 30, 2015 are as follows: Common Stock, $6 par, 50,000 shares issued and outstanding..$300,000 Paid-in Capital in
The capital accounts for Alston Market on June 30, 2015 are as follows:
Common Stock, $6 par, 50,000 shares issued and outstanding..$300,000
Paid-in Capital in excess of par..600,000
Retained earnings...1,840,000
Shares of the companys stock are selling at this time at $44. What entries would you make in each of the following cases?
(a) A 10% stock dividend is declared and issued.
(b) A 50% stock dividend is declared and issued.
(c) A 2-for-1 stock split is declared and issued.
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