The stockholders’ equity accounts of Lawrence Company

The stockholders’ equity accounts of Lawrence Company have the following balances on December 31, 2010.

Common stock, $10 par, 200,000 shares issued and outstanding............$2,000,000

Paid-in capital in excess of par.........................................................................1,200,000

Retained earnings..............................................................................................5,600,000

Shares of Lawrence Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases.

(a) A stock dividend of 5% is declared and issued.

(b) A stock dividend of 100% is declared and issued.

(c) A 2-for-1 stock split is declared and issued.

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