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Giraldi Corporation's Stockholders' Equity Section at December 31, 2013, Appears

Question 9

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Giraldi Corporation's stockholders' equity section at December 31, 2013, appears below:
Stockholders' equity
Paid-in capital Giraldi Corporation's stockholders' equity section at December 31, 2013, appears below: Stockholders' equity Paid-in capital On June 30, 2014, the board of directors of Giraldi Corporation declared a 15% stock dividend, payable on July 31, 2014, to stockholders of record on July 15, 2014. The fair value of Giraldi Corporation's stock on June 30, 2014, was $16. On December 1, 2013, the board of directors declared a 2 for 1 stock split effective December 15, 2014. Giraldi Corporation's stock was selling for $18 on December 1, 2014, before the stock split was declared. Par value of the stock was adjusted. Net income for 2014 was $230,000 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 stockholders' equity section for Giraldi Corporation at December 31, 2014, for the following items: On June 30, 2014, the board of directors of Giraldi Corporation declared a 15% stock dividend, payable on July 31, 2014, to stockholders of record on July 15, 2014. The fair value of Giraldi Corporation's stock on June 30, 2014, was $16.
On December 1, 2013, the board of directors declared a 2 for 1 stock split effective December 15, 2014. Giraldi Corporation's stock was selling for $18 on December 1, 2014, before the stock split was declared. Par value of the stock was adjusted. Net income for 2014 was $230,000 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 stockholders' equity section for Giraldi Corporation at December 31, 2014, for the following items: Giraldi Corporation's stockholders' equity section at December 31, 2013, appears below: Stockholders' equity Paid-in capital On June 30, 2014, the board of directors of Giraldi Corporation declared a 15% stock dividend, payable on July 31, 2014, to stockholders of record on July 15, 2014. The fair value of Giraldi Corporation's stock on June 30, 2014, was $16. On December 1, 2013, the board of directors declared a 2 for 1 stock split effective December 15, 2014. Giraldi Corporation's stock was selling for $18 on December 1, 2014, before the stock split was declared. Par value of the stock was adjusted. Net income for 2014 was $230,000 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 stockholders' equity section for Giraldi Corporation at December 31, 2014, for the following items:

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