The following equity balances were reported for HariMahesh Inc. on December 31, 1999: Common shares, 60,000 shares issued $1,480,000Retained earnings 225 600Total equity $ 1 705 600 On January 19, 2000 the board of directors declared a 5% stock dividend to the shareholders of record on February 03 to be distributed on February 19. The market price of the shares on January 19 was $6.00. On July 9 , 2000 the board of directors declared a 2:1 stock split. Required: a. Prepare the journal entries required for the above transactions. b. What is the total number of common shares issued and outstanding at December 31, 2000? (Show your calculations)

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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The following equity balances were reported for HariMahesh Inc. on December 31, 1999:
Common shares, 60,000 shares issued $1,480,000
Retained earnings 225 600
Total equity $ 1 705 600

On January 19, 2000 the board of directors declared a 5% stock dividend to the shareholders of record on February 03 to be distributed on February 19. The market price of the shares on January 19 was $6.00. On July 9 , 2000 the board of directors declared a 2:1 stock split.

Required:
a. Prepare the journal entries required for the above transactions.
b. What is the total number of common shares issued and outstanding at December 31, 2000? (Show your calculations)

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