Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other purposes, the companydecided to issue stock dividends to its shareholders. The market price of each Sealand Company share was $22.Prepare the journal entries if the company decides to declare and issue a 9% stock dividend. (Credit account titles are automaticallyindented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O forthe amounts.)Account and explanationDebitCreditWhen declared:When issued:eTextbook and MediaList of AccountsPrepare the journal entry if instead of declaring the stock dividend the company decides to split its shares two-for-one. (Creditaccount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" forthe account titles and enter O for the amounts.)Account and explanationDebitCredit

Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other purposes, the company decided to issue stock dividends to its shareholders. The market price of each Sealand Company share was $22. Prepare the journal entries if the company decides to declare and issue a 9% stock dividend. (Credit account titles are automaticaly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter fo the amounts.) Account and explanation Debit Credit When declared:

Sealand Company has 90,000 common shares outstanding. Because it wants to retain its cash for other purposes, the company decided to issue stock dividends to its shareholders. The market price of each Sealand Company share was $22. Prepare the journal entries if the company decides to declare and issue a 9% stock dividend. (Credit account titles are automaticaly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter fo the amounts.) Account and explanation Debit Credit When declared:

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...

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