Question
The stockholders equity accounts of Ayayai Company have the following balances on December 31, 2017. Common stock, $3 par, 1,000,000 shares issued and outstanding $3,000,000
The stockholders equity accounts of Ayayai Company have the following balances on December 31, 2017.
| Common stock, $3 par, 1,000,000 shares issued and outstanding | $3,000,000 | |
| Paid-in-capital in excess of par common stock | 4,500,000 | |
| Retained earnings | 8,318,000 |
Shares of Ayayai Company stock are currently selling on the Midwest Stock Exchange at $23. Prepare the appropriate journal entries for each of the following independent cases.
The stockholders equity accounts of Ayayai Company have the following balances on December 31, 2017.
| Common stock, $3 par, 1,000,000 shares issued and outstanding | $3,000,000 | |
| Paid-in-capital in excess of par common stock | 4,500,000 | |
| Retained earnings | 8,318,000 |
Shares of Ayayai Company stock are currently selling on the Midwest Stock Exchange at $23. Prepare the appropriate journal entries for each of the following independent cases.
1. A stock dividend of 10% is declared and issued.
Account Titles and Explanation Debit Credit
2.A stock dividend of 50% is declared and issued.
Account Titles and Explanation Debit Credit
3. A 2-for-1 stock split is declared and issued.
Account Titles and Explanation Debit Credit
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