The following data were taken from the balance sheet accounts of Symbol Two Corporation on June 30, 2014.Current assets ............ $125,000Investments ............ 365,000Common stock (par value $1) ..... 70,000Paid-in capital in excess of par .... 680,000Retained earnings ......... 963,000InstructionsPrepare the required journal entries for the following unrelated items.(a) The par value of the capital stock is reduced to $0.50 with a 2-for-1 stock split.(b) A 10% stock dividend is declared and distributed at a time when the market value of the shares is $25 per share.(c) A property dividend is declared September 12, 2014, and paid October 1, 2014, in common shares in another company held as an equity investment. The equity investment has a book value of $50,000 and a fair market value of $205,000.

The following data were taken from the balance sheet accounts of Symbol

The following data were taken from the accounts of Symbol Two on June 30, 2014.
Current assets ............ $125,000
Investments ............ 365,000
Common stock $1) ..... 70,000
Paid-in capital in excess of par .... 680,000
Retained earnings ......... 963,000

Instructions
Prepare the required journal entries for the following unrelated items.
(a) The of the capital stock is reduced to $0.50 with a 2-for-1 stock split.
(b) A 10% stock is declared and distributed at a time when the market value of the shares is $25 per share.
(c) A property is declared September 12, 2014, and paid October 1, 2014, in common shares in another company held as an equity investment. The equity investment has a book value of $50,000 and a fair market value of $205,000.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...