The capital accounts for Shop Right Market on June 30, 2008, are as follows:
Common stock, $5 par, 40,000 shares issued and outstanding . . . . . . . $ 200,000
Paid-in capital in excess of par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 835,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,160,000
Shares of the company?s stock are selling at this time at $22. What entries would you make in each of the following cases?
(a) A 10% stock dividend is declared and issued.
(b) A 50% stock dividend is declared and issued.
(c) A 2-for-1 stock split is declared and issued.
