AC 302 CHAPTER 15 Question 15

AC 302 CHAPTER 15 Question 15 
Name				Date		
Instructor				Course		
Intermediate Accounting 14th Edition by Kieso Weygandt and Warfield						
Primer on Using Excel in Accounting by Rex A Schildhouse						
						
E15-15 Dividend Entries The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.						
						
	Current assets			$540,000 		
	Investments			$624,000 		
	Common stock, (par value $10)			$600,000 		
	Paid-in capital in excess of par			$150,000 		
	Retained earnings			$840,000 		
						
Instructions:						
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.			
						
	Account Title				Formula	
	Account Title					Formula
	Account Title					Formula
						
	Account Title				Amount	
	Account Title					Amount
						
(b) The par value of the capital stock is reduced to				$2 	with a 5-for-1 stock split	
						
Text entry as appropriate.						
						
						
						
(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 
						
Jan 05, 13	Account Title				Amount	
	Account Title					Amount
						
Jan 05, 13	Account Title				Amount	
	Account Title					Amount
						
Jan 25, 13	Account Title				Amount	
	Account Title					Amount