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

Current assets $530,000

Debt investments (trading) 651,000

Common stock (par value $10) 502,000

Paid-in capital in excess of par 152,000

Retained earnings 826,000

Show the required journal entries for the following unrelated items.

(a)A6% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $34.

(b)The par value of the common stock is reduced to $2with a5-for-1 stock split.

(c)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 $104,000and a fair value of $124,000.

No. Account Titles and Explanation Debit Credit

(a)(1)

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(a)(2)

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(b)

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(c)

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(To record change in value of bonds)

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(To record the declaration of dividends)

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