The stockholders' equity accounts of G.K. Chesterton Company have the following balances on December 31, 2025. Common stock, $10 par, 300,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) a. b. C A stock dividend of 5% is (1) declared and (2) issued. A stock dividend of 100% is (1) declared and (2) issued. A 2-for-1 stock split is (1) declared and (2) issued. No. Account Titles and Explanation a. (1) a. (2) $3,000,000 1,200,000 5,600,000 Debit JUD Credit

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The stockholders' equity accounts of G.K. Chesterton Company have the following balances on December 31, 2025.
Common stock, $10 par, 300,000 shares issued and outstanding
Paid-in capital in excess of par-common stock
Retained earnings
Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37.
Prepare the appropriate journal entries for each of the following cases. (List all debit entries before credit entries. Credit account titles are
automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and
enter o for the amounts.)
a.
b.
C.
No. Account Titles and Explanation
a. (1)
A stock dividend of 5% is (1) declared and (2) issued.
A stock dividend of 100% is (1) declared and (2) issued.
A 2-for-1 stock split is (1) declared and (2) issued.
a. (2)
$3,000,000
1,200,000
5,600,000
Debit
Credit
Transcribed Image Text:The stockholders' equity accounts of G.K. Chesterton Company have the following balances on December 31, 2025. Common stock, $10 par, 300,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings Shares of G.K. Chesterton Company stock are currently selling on the Midwest Stock Exchange at $37. Prepare the appropriate journal entries for each of the following cases. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) a. b. C. No. Account Titles and Explanation a. (1) A stock dividend of 5% is (1) declared and (2) issued. A stock dividend of 100% is (1) declared and (2) issued. A 2-for-1 stock split is (1) declared and (2) issued. a. (2) $3,000,000 1,200,000 5,600,000 Debit Credit
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