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Prepare the required journal entries for the following

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Reference no: EM13566159

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

Current assets
$543,000
Debt investments
630,000
Common stock (par value $10)
668,000
Paid-in capital in excess of par-common stock
158,800
Retained earnings
844,000

Prepare the required journal entries for the following unrelated items. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(a)
A 5% stock dividend is (1) declared and (2) distributed at a time when the market price is $41 per share.
(b)
The par value of the capital stock is reduced to $2 with a 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 $94,720 and a fair value of $128,300.

Reference no: EM13566159

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