Question: Problem 5 (continued) April 3rd A 2-for-1 stock split occurred. The par value of the stock was to be reduced to $2.50 per share. Market

Problem 5 (continued) April 3rd A 2-for-1 stock split occurred. The par value of the stock was to be reduced to $2.50 per share. Market value on April 3'd was $15 per share. July 2nd A 5% stock dividend was declared and issued. Market value is currently $14 per share. August 2nd A cash dividend of $.10 cents per share was declared, payable on Sept. 15, to stockholders on record as of August 22nd.Problem 5 The stockholder's equity section of Great Corporation's balance sheet as of December 31", 2018 is as follows: Stockholder's Equity: Common Stock, $5 par value, authorized 1,000,000 shares, $1,000,000 Issued 200,000 shares Paid in capital in excess of par $425,000 Retained Earnings $1,500,00 Prepare the journal entries for each transaction that occurred in 2019. January 4th 5,000 shares of authorized common stock were sold for $8 per share. January 12th Declared a cash dividend of 10 cents per share, payable February 14th to stockholders on record as of February 1st. February 8th 10,000 shares of authorized common stock were sold for $10 per share. March 2nd A 30% stock dividend was declared and issued. Market value per share is currently $12 per share

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