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(Dividend Entries) The following data were taken from the balance sheet accounts of Bonds Corporation on December 31, 2013. Current assets $540,000 Investments $624,000 Common
(Dividend Entries) The following data were taken from the balance sheet accounts of Bonds Corporation on December 31, 2013. | ||||||
Current assets | $540,000 | |||||
Investments | $624,000 | |||||
Common stock, (par value $10) | $500,000 | |||||
Paid-in capital in excess of par | $150,000 | |||||
Retained earnings | $840,000 | |||||
Instructions: FILL in all Charts and show formula's | ||||||
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 | ||||
value of the shares is | $39 | per share. | ||||
Account Title | Formula | |||||
Account Title | Formula | |||||
Account Title | Formula | |||||
Account Title | Amount | |||||
Account Title | Amount | |||||
(b) The par value of the capital stock is reduced to | $2 | with a 5-for-1 stock split | ||||
Text entry as appropriate. | ||||||
(c) A dividend is declared January 5, 2014, and paid January 25, 2014, in bonds held as an investment. | ||||||
The bonds have a book value of | $100,000 | and a fair value of | $135,000 | |||
Jan 05, 14 | Account Title | Amount | ||||
Account Title | Amount | |||||
Jan 05, 14 | Account Title | Amount | ||||
Account Title | Amount | |||||
Jan 25, 14 | Account Title | Amount | ||||
Account Title | Amount |
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