Question: The stockholders equity accounts of Lawrence Company

The stockholders’ equity accounts of Lawrence Company have the following balances on December 31, 2010.
Common stock, $10 par, 200,000 shares issued and outstanding $2,000,000
Paid-in capital in excess of par 1,200,000
Retained earnings 5,600,000
Shares of Lawrence Company stock are currently selling on the Midwest Stock Exchange at $37. 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.

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  • CreatedDecember 22, 2010
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