The capital accounts for Alston Market on June 30, 2013, are as follows: Common stock, $6 par,

Question:

The capital accounts for Alston Market on June 30, 2013, 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 company's stock are selling at this time at $66. What entries would you make in each of the following cases?
(a) A 10% stock is declared and issued.
(b) A 50% stock is declared and issued.
(c) A 2-for-1 stock split is declared and issued.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...