Determine the following amounts after the stock divident was declared and closing entries were recorded....
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Accounting
Determine the following amounts after the stock divident was declared and closing entries were recorded.
Entries for Stock Dividends Senior ufe Co. is an HMO for businesses in the fortland area. The following account batances appear on the balance sheet of Senior life Co.t cammon' stock (260,000. shares authorized; 5,000 stares issued), $25 par, $125,000; Paid-In Capital in excess of par- coenmen sto$25,000; and Recained earnings, 51,250,000, The board of directors declared a 1% stock dividend when the market phice of the stock was $32 a share. Senior Life Co. reported no income or loss for the current year. If an amount box does not require an entry, leave it blank. If no entry is required, select "No entry required" from the dropdown. a1. Journolize the entry to record the declaration of the dividend, capitalizing an amount equal to market value. Feealas: p chect Mrwis, fecall that a stock dividend affects only stockhoiders' equity. a2. Journalize the entry to record the issuance of the stock certificatesi etained carnings, and (3) total stockholders' equity. reodoack Frecx My Work: increase and what account(s) would decrease
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