The following data were taken from the balance sheet accounts of Mudaser Corporation on December 31, 2019.

Current assets

Debt investments

Rs.540,000

624,000

Common stock (par value Rs.10)

Paid-in capital in excess of par

Retained earnings

500,000

150,000

840,000

Instructions

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 per share is Rs.39.

(b) A cash dividend of Rs 15000 is declared January 5, 2019, and paid January 25, 2019.