Stock Dividends and Stock Split-Journal Entries
Eagle Corporation Has 250,000

question 65

Essay

Stock dividends and stock split-journal entries
Eagle Corporation has 250,000 shares of $6 par value capital stock outstanding. Prepare journal entries in the space provided to record the following transactions during the current year:
$\begin{array}{|l|l|}\hline \text { Feb. 10 } & \text { Declared a } 25 \% \text { stock dividend. Market price per share was } \$ 22 . \\\hline \text { Mar. 15 } & \text { Issued the shares for the stock dividend declared on February } 10 . \\\hline \text { June 30 } & \begin{array}{l}\text { Distributed additional shares of capital stock in a 2-for-1 stock split. Market } \\\text { price }\end{array} \\\hline &\text { per share was } \$ 40 \text { immediately before the stock split. } \\\hline\text { Oet. } 17& \text { Declared a } 10 \% \text { stock dividend. Market price per share was } \$ 24 . \\\hline \end{array}$ $\begin{array}{l}\begin{array}{|l|r|r|r|}\hline&\text { General Journal }&\quad\quad&\quad\quad\\\hline 20 \\\hline \text { Feb.10 } \\\hline \\\hline \\\hline \\\hline \text { Mar. 15 } \\\hline \\\hline \\\hline \\\hline \text { June 30 } \\\hline \\\hline \\\hline \\\hline \text { Oct. 17 } \\\hline \\\hline\end{array}\\\end{array}$

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