Prepare appropriate general journal entries for each of the following transactions for Mainstream Technologies, Inc. Mar. 25 Declared a 10% stock dividend to common shareholders. The market value of the common stock is $12 per share. The par value is $10. There are 100,000 shares of common stock currently outstanding. Apr.  1 Issued the stock certificates for the stock dividend. July 31 Declared a two-for-one stock split.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Prepare appropriate general journal entries for each of the following transactions for Mainstream Technologies, Inc.

Mar. 25

Declared a 10% stock dividend to common shareholders. The market value of the common stock is $12 per share. The par value is $10. There are 100,000 shares of common stock currently outstanding.

Apr.  1

Issued the stock certificates for the stock dividend.

July 31

Declared a two-for-one stock split.
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