Kendall Corporation has 600,000 shares authorized and 150,000 shares issued and outstanding of its $4 par value common stock.The stock is currently selling for $50 per share.There is $900,000 of additional paid-in capital and the firm has $3,000,000 of retained earnings.
Prepare the appropriate journal entry for Kendall Corporation for each of the alternative events below.
a)2% stock dividend
b)100% stock dividend
c)2 for 1 stock split (Assume 300,000 new shares were exchanged for the old shares)

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The Answer of Kendall Corporation has 600,000 shares authorized and 150,000 shares issued and outstanding of its $4 par value common stock.The stock is currently selling for $50 per share.There is $900,000 of additional paid-in capital and the firm has $3,000,000 of retained earnings.
Prepare the appropriate journal entry for Kendall Corporation for each of the alternative events below.
a)2% stock dividend
b)100% stock dividend
c)2 for 1 stock split (Assume 300,000 new shares were exchanged for the old shares)

Kendall Corporation Has 600,000 Shares Authorized and 150,000 Shares Issued