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Assume that Berlin Corporation has 3,000,000 shares of $5 par value common stock issued and...

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Accounting

Assume that Berlin Corporation has 3,000,000 shares of $5 par value common stock issued and outstanding. The company is authorized to issue 10 million shares. Due to increased share prices,
the corporation decided to implement a 2-for-1 stock split. Prepare the journal entries required on the declaration and distribution of the stock split. (Record debits first, then credits. Exclude
explanations from any journal entries. If no entry is required, select "No Entry Required" on the first line of the Account column and leave all other fields blank.)
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