The following data were taken from the balance sheet accounts of Wickham Corporation on December 31, 2012.
| Current assets |
|
$543,000 |
| Debt investments |
|
630,000 |
| Common stock (par value $10) |
|
668,000 |
| Paid-in capital in excess of par-common stock |
|
158,800 |
| Retained earnings |
|
844,000 |
Prepare the required journal entries for the following unrelated items. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
| (a) |
|
A 5% stock dividend is (1) declared and (2) distributed at a time when the market price is $41 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 $94,720 and a fair value of $128,300.
|