| Stock Dividends and Stock Splits
The stockholders’ equity accounts of G.K. Chesterton Company have the following balances on December 31, 2007.
Common stock, $10 par, 300,000 shares issued and outstanding $3,000,000
Paid-in capital in excess of par $1,200,000
Retained earnings $5,600,000
Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37.
Instructions
Prepare the appropriate journal entries for each of the following cases.
a) A stock dividend of 5% is declared and issued.
b) A stock dividend of 100% is declared and issued.
c) A 2-for-1 stock split is declared and issued.
Any help would be appreciate it, thanks
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