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show steps The following data were taken from the balance sheet accounts of Grouper Corporation on December 31, 2019. Current assets $578,000 Debt investments (trading)
show steps The following data were taken from the balance sheet accounts of Grouper Corporation on December 31, 2019. Current assets $578,000 Debt investments (trading) 686,000 Common stock (par value 510) 454,000 Paid-in capital in excess of par 152.000 Retained earnings 847,000 Prepare the required journal entries for the following unrelated items. (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) (a) A6% stock dividend is (1) declared and 12) distributed at a time when the market price per share is $41. [1] The par value of the common stock is reduced to $2 with a 5-for-1 stock spilt. lo A dividend is declared January 5, 2020, and paid January 25, 2020, in bonds held as an investment. The bonds have a book value of $101.000 and a tair value of $125.000 No. Date Account Titles and Explanation Debit Crec (5) Ic To record change in value of bonds) (b) c) A6% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $41. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2020, and paid January 25, 2020, in bonds held as an investment. The bonds have a book value of $101,000 and a fair value of $125,000 Debit Crec NO. Date Account Titles and Explanation (n) 2 (b) c) To record change in value of bonds) To record the declaration of dividends)
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