E15-15 dividend entries the following data were taken from

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Reference no: EM13576316

E15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.

Current assets


Debt investments


Common stock (par value $10)


Paid-in capital in excess of par-common stock


Retained earnings



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 price 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, 2013, and paid January 25, 2013, in bonds held as an investment. The bonds have a book value of $90,000 and a fair value of $125,000.

Reference no: EM13576316


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