Required information 7 The par amount of the shares becomes $1 per share. 7 No journal entry is recorded. Knowledge Check 02 Craft declares and distributes a 2-for-1 stock split in the form of a 100%...

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Extracted text: Required information 7 The par amount of the shares becomes $1 per share. 7 No journal entry is recorded. Knowledge Check 02 Craft declares and distributes a 2-for-1 stock split in the form of a 100% stock dividend and distributes 1,000 shares when the market value of the $1 par common stock is $12 per share. The company chooses not to reclassify earned capital as invested capital with regards to this transaction. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transactlon llst View Journal entry worksheet No Event General Joumal Debit Credit 100 1 01 Paid-in capital excess of par 100 Common stock Prev 18 of 23 Next > Question no....pages -pdf Question no....pages