Question: Exercise 15-14 Your answer is partially correct. Try again. The stockholders' equity accounts of Waterway Company have the following balances on December 31, 2017. Common


Exercise 15-14 Your answer is partially correct. Try again. The stockholders' equity accounts of Waterway Company have the following balances on December 31, 2017. Common stock, $10 par, 274,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings $2,740,000 1,230,000 6,160,000 Shares of Waterway Company stock are currently selling on the Midwest Stock Exchange at $38. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.,) (a) A stock dividend of 796 is (1) declared and (2) issued (b) A stock dividend of 100% is (1) declared and (2) issued. (c) A 2-for-1 stock split is (1) declared and (2) issued
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
