The stockholders' equity accounts of Whispering Company have the following balances on December 31, 2025. Common stock, $10 par, 304,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings Shares of Whispering Company stock are currently selling on the Midwest Stock Exchange at $40. 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. $3,040,000 1,290,000 5,340,000 A stock dividend of 7% 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.
The stockholders' equity accounts of Whispering Company have the following balances on December 31, 2025. Common stock, $10 par, 304,000 shares issued and outstanding Paid-in capital in excess of par-common stock Retained earnings Shares of Whispering Company stock are currently selling on the Midwest Stock Exchange at $40. 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. $3,040,000 1,290,000 5,340,000 A stock dividend of 7% 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.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 15P: Included in the December 31, 2018, Jacobi Company balance sheet was the following shareholders...
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![The stockholders' equity accounts of Whispering Company have the following balances on December 31, 2025.
Common stock, $10 par, 304,000 shares issued and outstanding
Paid-in capital in excess of par-common stock
Retained earnings
a.
b.
Shares of Whispering Company stock are currently selling on the Midwest Stock Exchange at $40.
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.)
C.
No.
A stock dividend of 7% 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.
Account Titles and Explanation
O Search
$3,040,000
A
1,290,000
5,340,000
&
7
Debit
(DOLL
8
Credit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F63217533-6dc0-4523-aae7-55dfa5703e4b%2F059a6ddd-0613-48e8-92a0-e22095831a40%2F2vdidd7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The stockholders' equity accounts of Whispering Company have the following balances on December 31, 2025.
Common stock, $10 par, 304,000 shares issued and outstanding
Paid-in capital in excess of par-common stock
Retained earnings
a.
b.
Shares of Whispering Company stock are currently selling on the Midwest Stock Exchange at $40.
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.)
C.
No.
A stock dividend of 7% 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.
Account Titles and Explanation
O Search
$3,040,000
A
1,290,000
5,340,000
&
7
Debit
(DOLL
8
Credit
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