Problem 11-249 [LO 11-3] Company Z has 2.85 million shares of common stock authorized with a par value of $1 and a market price of $67. There are 1.425 million outstanding shares and 0.35625 million shares held in treasury stock.
a. Prepare the journal entry if the company declares and distributes a 10% stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars and not in millions.)
b. Show the effect of the 10% stock dividend on assets, liabilities, and stockholders' equity. (Enter all amounts as positive values. Enter your answers in dollars and not in millions.)
c. Prepare the journal entry if the company declares and distributes a 100% stock dividend. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars and not in millions.)
d. Show the effect of the 100% stock dividend on assets, liabilities, and stockholders' equity. (Enter all amounts as positive values. Enter your answers in dollars and not in millions.)