Holiday Travel Corporation's shareholders' equity section at December 31, 2013 appears below:
Shareholders' equity On June 30, 2014, the board of directors of Holiday Travel Corporation declared a 10% stock dividend, payable on July 31, 2014, to shareholders of record on July 15, 2014. The fair market value of Holiday Travel Corporation's shares on June 30, 2014, was $12 per share.
On December 1, 2014, the board of directors declared a 2-for-1 stock split effective December 15, 2014. Holiday Travel Corporation's shares were selling for $16 on December 1, 2014, before the stock split was declared. Profit for 2014 was $225,000 and there were no cash dividends declared.
Instructions
a. Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split.
b. Fill in the amount that would appear in the shareholders' equity section for Holiday Travel Corporation at December 31, 2014, for the following items:

Question

Holiday Travel Corporation's shareholders' equity section at December 31, 2013 appears below:
Shareholders' equity  On June 30, 2014, the board of directors of Holiday Travel Corporation declared a 10% stock dividend, payable on July 31, 2014, to shareholders of record on July 15, 2014. The fair market value of Holiday Travel Corporation's shares on June 30, 2014, was $12 per share.
On December 1, 2014, the board of directors declared a 2-for-1 stock split effective December 15, 2014. Holiday Travel Corporation's shares were selling for $16 on December 1, 2014, before the stock split was declared. Profit for 2014 was $225,000 and there were no cash dividends declared.
Instructions 
a. Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split.
b. Fill in the amount that would appear in the shareholders' equity section for Holiday Travel Corporation at December 31, 2014, for the following items:

Quizplus · Accepted Answer

The Answer of Holiday Travel Corporation's shareholders' equity section at December 31, 2013 appears below:
Shareholders' equity  On June 30, 2014, the board of directors of Holiday Travel Corporation declared a 10% stock dividend, payable on July 31, 2014, to shareholders of record on July 15, 2014. The fair market value of Holiday Travel Corporation's shares on June 30, 2014, was $12 per share.
On December 1, 2014, the board of directors declared a 2-for-1 stock split effective December 15, 2014. Holiday Travel Corporation's shares were selling for $16 on December 1, 2014, before the stock split was declared. Profit for 2014 was $225,000 and there were no cash dividends declared.
Instructions 
a. Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split.
b. Fill in the amount that would appear in the shareholders' equity section for Holiday Travel Corporation at December 31, 2014, for the following items:

Holiday Travel Corporation's Shareholders' Equity Section at December 31, 2013