Rice Corporation reported the following shareholders' equity items on December 31,2017:
Preferred shares,$5,cumulative,7,000 shares
authorizad, 1,000 shares issued Common shares,10,000 shares authorized,
Consider each of the following cases independently:
1_How many common shares would be outstanding if Rice Corporation declares a 4-for-1 stock split?
2_Prepare the journal entry if Rice Corporation declared a 15% stock dividend on the common shares when the market price of common shares was $130 per share.
3_Prepare the journal entry if Rice Corporation declared a 45% stock dividend on the common shares when the market price of common shares was $130 per share.
4_Give the journal entry to record the sale of 800 common shares for $125 per share.
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