Question
The following data were taken from the SFP accounts of Bedard Corporation on December 31, 2023: Current assets FV-NI investments Common shares (unlimited authorized, 600,000
The following data were taken from the SFP accounts of Bedard Corporation on December 31, 2023: Current assets FV-NI investments Common shares (unlimited authorized, 600,000 shares issued and outstanding) 6,000,000 Contributed surplus Retained earnings $1,040,000 824.000 350,000 1,840,000 Instructions Prepare the required journal entries for the following unrelated events in January 2024: a. A 6% stock dividend at the fair value of the shares is declared, and it is distributed at a time when the shares' fair value is $48 per share. b. A 4-for-1 stock split is effected. c. A dividend in kind is declared on January 8, 2024, and paid on January 28, 2024, in FV-NI investments. The investments have a carrying amount of $160,000 (fair value at I fair value of $165,000.
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