Entries for Stock Dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s balance sheet: Common stock (420,000 shares authorized ; 4,000 shares issued), $75 par, $300,000; Paid-In Capital in excess of par—common stock, $32,000; and Retained earnings, $2,400,000. The board of directors declared a 1% stock dividend when the market price of the stock was $95 a share. Healthy Life reported no income or loss for the current year. B. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital $fill in the blank 5fb21f042046030_1 Total retained earnings $fill in the blank 5fb21f042046030_2 Total stockholders' equity $fill in the blank 5fb21f042046030_3 c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital $fill in the blank 5fb21f042046030_4 Total retained earnings $fill in the blank 5fb21f042046030_5 Total stockholders' equity $fill in the blank 5fb21f042046030_6
Answer Part B and C
Entries for Stock Dividends
Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s
B. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total
| Total paid-in capital | $fill in the blank 5fb21f042046030_1 |
| Total retained earnings | $fill in the blank 5fb21f042046030_2 |
| Total stockholders' equity | $fill in the blank 5fb21f042046030_3 |
c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity.
| Total paid-in capital | $fill in the blank 5fb21f042046030_4 |
| Total retained earnings | $fill in the blank 5fb21f042046030_5 |
| Total stockholders' equity | $fill in the blank 5fb21f042046030_6 |
If no entry is required, select "No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
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