3.Kendall Corporation has 600,000 shares authorized and 150,000 shares issued and outstanding of its $4 par value common stock. The stock is currently selling for $50 per share. There is $900,000 of additional paid-in capital and the firm has $3,000,000 of retained earnings.Prepare the appropriate journal entry for Kendall Corporation for each of the alternative events below.a) 2% stock dividendb) 100% stock dividendc) 2 for 1 stock split (Assume 300,000 new shares were exchanged for the old shares)

3.Kendall Corporation has 600,000 shares authorized and 150,000 shares issued and outstanding of its $4 par value common stock. The stock is currently selling for $50 per share. There is $900,000 of additional paid-in capital and the firm has $3,000,000 of retained earnings.Prepare the appropriate journal entry for Kendall Corporation for each of the alternative events below.a) 2% stock dividendb) 100% stock dividendc) 2 for 1 stock split (Assume 300,000 new shares were exchanged for the old shares)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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provide answer for A, B and C