Entries for Stock Dividends Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s balance sheet: Common stock (420,000 shares authorized ; 4,000 shares issued), $75 par, $300,000; Paid-In Capital in excess of par—common stock, $32,000; and Retained earnings, $2,400,000. The board of directors declared a 1% stock dividend when the market price of the stock was $95 a share. Healthy Life reported no income or loss for the current year. B. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital $fill in the blank 5fb21f042046030_1 Total retained earnings $fill in the blank 5fb21f042046030_2 Total stockholders' equity $fill in the blank 5fb21f042046030_3 c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity. Total paid-in capital $fill in the blank 5fb21f042046030_4 Total retained earnings $fill in the blank 5fb21f042046030_5 Total stockholders' equity $fill in the blank 5fb21f042046030_6
Answer Part B and C
Entries for Stock Dividends
Healthy Life Co. is an HMO for businesses in the Fresno area. The following account balances appear on Healthy Life’s balance sheet: Common stock (420,000 shares authorized ; 4,000 shares issued), $75 par, $300,000; Paid-In Capital in excess of par—common stock, $32,000; and
B. Determine the following amounts before the stock dividend was declared: (1) total paid-in capital, (2) total retained earnings, and (3) total
Total paid-in capital | $fill in the blank 5fb21f042046030_1 |
Total retained earnings | $fill in the blank 5fb21f042046030_2 |
Total stockholders' equity | $fill in the blank 5fb21f042046030_3 |
c. Determine the following amounts after the stock dividend was declared and closing entries were recorded at the end of the year: (1) total paid-in capital, (2) total retained earnings, and (3) total stockholders' equity.
Total paid-in capital | $fill in the blank 5fb21f042046030_4 |
Total retained earnings | $fill in the blank 5fb21f042046030_5 |
Total stockholders' equity | $fill in the blank 5fb21f042046030_6 |
If no entry is required, select "No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.
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