The stockholders’ equity accounts of Flint Company have the following balances on December 31, 2020. Common stock, $10 par,292,000 shares issued and outstanding $2,920,000 Paid-in capital in excess of par—common stock 1,320,000 Retained earnings 5,080,000Shares of Flint Company stock are currently selling on the Midwest Stock Exchange at $33. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered.

(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.

Answer rating: 100% (QA)

No Account Titles and Explanation Debit Credit a 1 Retained Earnings 578160 292000 x 6 x 33 ... View the full answer