The following data were taken from the balance sheet accounts
The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2010. 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
(b) The par value of the capital stock is reduced to $2 with a 5-for-1 stock split.
(c) A dividend is declared January 5, 2011, and paid January 25, 2011, in bonds held as an investment. The bonds have a book value of $90,000 and a fair value of$125,000.