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. 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. a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. Stock Dividends fill in the blank 6a18bffdc000056_2 fill in the blank 6a18bffdc000056_3 Stock Dividends Distributable fill in the blank 6a18bffdc000056_5 fill in the blank 6a18bffdc000056_6 Paid-In Capital in Excess of Par-Common Stock fill in the blank 6a18bffdc000056_8 fill in the blank 6a18bffdc000056_9 a2. Journalize the entry to record the issuance of the stock certificates. Stock Dividends Distributable fill in the blank 951bd6fff07cff9_2 fill in the blank 951bd6fff07cff9_3 Common Stock

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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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.

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.

a1. Journalize the entry to record the declaration of the dividend, capitalizing an amount equal to market value.

Stock Dividends	fill in the blank 6a18bffdc000056_2	fill in the blank 6a18bffdc000056_3
Stock Dividends Distributable	fill in the blank 6a18bffdc000056_5	fill in the blank 6a18bffdc000056_6
Paid-In Capital in Excess of Par-Common Stock	fill in the blank 6a18bffdc000056_8	fill in the blank 6a18bffdc000056_9

a2. Journalize the entry to record the issuance of the stock certificates.

	Stock Dividends Distributable	fill in the blank 951bd6fff07cff9_2	fill in the blank 951bd6fff07cff9_3
	Common Stock

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