In: Accounting
On September 1, the board of directors of Colorado Outfitters,
Inc., declares a stock dividend on its 27,000, $18 par, common
shares. The market price of the common stock is $47 on this
date.
Required:
1. 2. & 3. Record the necessary journal
entries assuming a small (10%) stock dividend, a large (100%) stock
dividend, and a 2-for-1 stock split. (If no entry is
required for a particular transaction/event, select "No Journal
Entry Required" in the first account field.)