Entries for stock dividends and stock splits

Reference no: EM1356959

The stockholder's equity accounts of Lawrence Company have the folowing balance on December 31, 2010. Common stock, $10 par, 274,000 shares issued and outstanding $2,740,000, Paid-in capital in excess of par $1,200,000, Retained Earnings $5,600,000. Shares of Lawrence Company stock are currently selling on the Midwest Stock Exchange at $42. Journal entries for A. A stock divdend of 5% is declared and issued. b. a stock divdend of 100% is declared and issued. C. How much of a reduction in retained earning results when a 3-for-1 stock split is declared and issued.

Reference no: EM1356959

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Entries for stock dividends and stock splits : The stockholder's equity accounts of Lawrence Company have the folowing balance on December 31, 2010. Common stock, $10 par, 274,000 shares issued and outstanding $2,740,000, Paid-in capital in excess of par $1,200,000, Retained Earnings $5,600,00..

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