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The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.

Current assets: 540,000
Debt investments: 624,000
common stock (par value $10): 600,000
paid in capital in excess of par-common stock: 150,000
retained earnings: 840,000

Prepare the required journal entries for the following unrelated items:

(a) a 5% stock dividend is declared and distributed at a time when the market price is $39 per share.

(b) the par value of the capital stock is reduced to $2 witha 5-for-1 stock split.

(c) a dividend is declared January 5, 2013, and paid January 25, 2013 in bonds held as an investment. The bonds have a book value of $90,000 and a fair value of $125,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9400593

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