The stockholders' equity accounts of Pina Company have the following balances on December 31, 2020. Common stock, $1 par, 1,560,000 shares issued and outstanding $1,560,000 Paid-in capital in excess of par 7,080,000 Retained earnings 24,980,000 Shares of Pina Company stock are currently selling on the Philadelphia Stock Exchange at $15. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when 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) A stock dividend of 200% is (1) declared and (2) issued. (b) A stock dividend of 10% is (1) declared and (2) issued. (c) A 3-for-1 stock split is (1) declared and (2) issued.

The stockholders' equity accounts of Pina Company have the following balances on December 31, 2020. Common stock, $1 par, 1,560,000 shares issued and outstanding $1,560,000 Paid-in capital in excess of par 7,080,000 Retained earnings 24,980,000 Shares of Pina Company stock are currently selling on the Philadelphia Stock Exchange at $15. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when 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) A stock dividend of 200% is (1) declared and (2) issued. (b) A stock dividend of 10% is (1) declared and (2) issued. (c) A 3-for-1 stock split is (1) declared and (2) issued.

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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