Answer:
On January 1, 2021, Gerlach Inc. had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 256,000 shares issued $256,000 
Paid-in capital—excess of par, common 512,000 
Paid-in capital—excess of par, preferred 130,000 
Preferred stock, $100 par, 13,000 shares outstanding 1,300,000 
Retained earnings 2,600,000 
Treasury stock, at cost, 5,600 shares 28,000 
During 2021, Gerlach Inc. had several transactions relating to common stock. 
January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10.6 per share, fair value $9.30 per share). 
February 17: Distributed the property dividend. 
April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The fair value of the stock was $4 on this date. 
July 18: Declared and distributed a 3% stock dividend on outstanding common stock; fair value per share, $5. 
December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. 
December 20: Paid the cash dividend. 
Required: 
Record the above transactions and events in journal entry format.