Please answer all parts, thank you, and please type your answer and show all work including...

4.4 Ratings (676 Votes)

Date	Accounts title	Debit	Credit	Working, if any
a1	Stock Dividends	$67,340		[45500 shares x 4% x $37]
	Stock Dividend distributable		$18,200	[45500 shares x 4% x $10 par]
	Paid in Capital in excess of Par		$49,140	[45500 shares x 4% x $27]
	(Dividend declared)

a2	Stock Dividend distributable	$18,200
	Common Stock		$18,200
	(Dividend distributed)

b	NO ENTRY required for stock split

c. Jan 5 2017	Investments (Bonds)/Debt Investments	$28,000		[$133000 - 105000]
	Gain on Appreciation of Investments (Bonds)		$28,000
	(to record change in value)

	Retained Earnings	$133,000
	Property Dividends Payable		$133,000
	(to record declaration)

Jan-25	Property Dividends Payable	$133,000
	Investments (Bonds)/Debt Investments		$133,000
	(to record payment)

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member

Current assets		$554,000
Debt investments		596,000
Common stock (par value $10)		455,000
Paid-in capital in excess of par		148,000
Retained earnings		800,000

(a)		A 4% stock dividend is (1) declared and (2) distributed at atime when the market price per share is $37.
(b)		The par value of the common stock is reduced to $2 with a5-for-1 stock split.
(c)		A dividend is declared January 5, 2017, and paid January 25,2017, in bonds held as an investment. The bonds have a book valueof $105,000 and a fair value of $133,000.

No.	Date	Account Titles and Explanation	Debit	Credit
(a) (1)


(a) (2)

(b)

(c)	Jan. 5, 2017Jan. 25, 2017

		(To record change in value of bonds)


		(To record the declaration of dividends)
	Jan. 5, 2017Jan. 25, 2017

Other questions asked by students