Took Show Me How ntries for stock dividends Instruction Chart of Accounts Journal Final Questions Instructions Advanced Life Co is an HMO for businesses in the Albuquerque area The following account balances appear on the balance sheet of Advanced Life Co: Common stock (1,000,000 shares wuthorized, 480,000 shares ssued, 54 par $1.920,000; Pad-in capital in excess of par-common stock, $800,000, and Betained caminos $34,350,000 The board of directors declared a 3 stock dividend when the market price of the stock was $13 a share Advanced Life Co reported no income or loss for the current year Required: Journalize the entnes to record (1) the declaration of the dividend on December 1, capitializing an amount equal to market value, and (2) the issuance of the stock certificates on December 31 Refer to the chart of accounts for the exact wording of the account titles CNOW joumals do not use Ines for journal explanations. Every time on a journal page is used for debit or credit entries CNOW journals will automatically ndent a credit entry when a credit amount is entered b. Determine the fortowing amounts before the stock dividend was declared (1) total pand in capital, (2) dotal retained earrings, and (3) cota stockholders equity c Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year (1) foral paid in capital (2) total retained earnings and a total stockholders cout. eck My Work Previous All work saved. Email Instructor Save and Exit Submit Assignment