Question

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.



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  • CreatedDecember 22, 2010
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