The stockholders' equity accounts of Bramble Company have the following balances on December 31, 2020. Common...
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The stockholders' equity accounts of Bramble Company have the following balances on December 31, 2020. Common stock, $10 par, 290,000 shares issued and outstanding $2,900,000 Paid-in capital in excess of par-common stock 1,300,000 Retained earnings 6,060,000 Shares of Bramble Company stock are currently selling on the Midwest Stock Exchange at $40. 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 6% 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. No. Account Titles and Explanation Debit Credit (a) (1) (a) (2) (b) (1) (b) (2) (c) (1) (c) (2) The stockholders' equity accounts of Bramble Company have the following balances on December 31, 2020. Common stock, $10 par, 290,000 shares issued and outstanding $2,900,000 Paid-in capital in excess of par-common stock 1,300,000 Retained earnings 6,060,000 Shares of Bramble Company stock are currently selling on the Midwest Stock Exchange at $40. 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 6% 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. No. Account Titles and Explanation Debit Credit (a) (1) (a) (2) (b) (1) (b) (2) (c) (1) (c) (2)
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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