Prepare the required journal entries for the following

Assignment Help Accounting Basics

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

Questions Cloud

One of the statements for my project is utilities expenses : one of the statements for my project is utilities expenses of 3200 remain unpaid. 60 of the utilities expense is for

Rollins corps total assets at the end of last year were : rollins corps total assets at the end of last year were 300000 and its ebit was 75000. what was its basic earning? a.

The goal of this assignment is to demonstrate effective : term paper critical speech analysisconceptthe goal of this assignment is to demonstrate effective critical thinking

Rocket company produces small gasoline-powered engines for : rocket company produces small gasoline-powered engines for model airplanes. mr. clemens rockets cfo has presented you

Prepare the required journal entries for the following : the following data were taken from the balance sheet accounts of wickham corporation on december 31 2012.current

Assuming that the project is new information that it is : a company with one million shares outstanding and a share price of 20 undertakes a new project with an npv of 600000.

Declared a 2 stock dividend on common stock and a 125 : declared a 2 stock dividend on common stock and a 1.25 quarterly cash dividend per share on preferred stock. on the

Sones stones and rocks buys on terms of 210 net 30 from : stones stones and rocks buys on terms of 210 net 30 from its suppliers. if it pays on the 8th day taking the discount

Journalize the july transactions and the july 31 adjusting : kolton company closes its books on its july 31 year-end. the company does not make entries to accrue for interest

User Account

All Pages