Current assets $554,000 Debt investments (trading) 596,000 Common stock (par value $10) 455,000 Paid-in capital in...

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Current assets $554,000 Debt investments (trading) 596,000 Common stock (par value $10) 455,000 Paid-in capital in excess of par 148,000 Retained earnings 800,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) a. A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $37. b. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. C. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of $105,000 and a fair value of $133,000. Activate Wind Go to Settings to ac Current assets $554,000 Debt investments (trading) 596,000 Common stock (par value $10) 455,000 Paid-in capital in excess of par 148,000 Retained earnings 800,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.) a. A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $37. b. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. C. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of $105,000 and a fair value of $133,000. Activate Wind Go to Settings to ac

Answer rating: 100% (QA)

Journal Entries for Rooney Boat Company a Stock Dividend 1 Declaration No Entry Required Stock dividends do not affect assets or liabilities when declared they only impact equity accounts upon distrib... View the full answer