Problem #1-Stock dividends and stock split-journal entries ABC Inc. has 500,000 shares of $10 par value capital stock outstanding. Prepare journal entries in the space provided to record the following transactions during the current year: Feb. 01 Mar. 01 June 01 Declared a 5% stock dividend. Market price was $21 per share. Issued the shares for the stock dividend declared on February 20. Distributed additional share of capital stock in a 2-for-1 stock split. Market prices were $17 per share immediately before the stock split. Declared a 25% stock dividend. (HINT: Large stock dividends are valued at par value) Sep. 25