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During 2019, HH Inc. has 5,000 shares issued and outstanding, par value is $1 per...

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Accounting

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During 2019, HH Inc. has 5,000 shares issued and outstanding, par value is $1 per share On 15 December, the Board of Directors declared a 50% Share dividend to shareholders of record on 31 December 2019, payable on Jan 15, 2020. The market value of the share is $40 on 15Dec. 2019. Net income for 2019 was 100,000 Required Prepare the Journal entries on the following dates: 1- 15 Dec, 2019 2- 31 Dec, 2019 3- 15 Jan, 2020 HH Inc. has 5,000 shares of \$1 par value ordinary shares outstanding before a 2 -for-1 share split. Required Prepare the necessary Journal Entry

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