Share price and increase share volume prior to new issue

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Reference no: EM131294467

The common stock of Alexander Hamilton Inc. is currently selling at $111 per share. The directors wish to reduce the share price and increase share volume prior to a new issue. The per share par value is $8; book value is $76 per share. 9.16 million shares are issued and outstanding.

Prepare the necessary journal entries assuming the following.

a. The board votes a 2-for-1 stock split -2 entries

b. The board votes a 100% stock dividend

- 2 entries to record the declaration

- 2 entries to record the distribution

Reference no: EM131294467

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