Accounting Assignment | College Homework Help
March 17th, 2020
E15.15 (LO 3) 
(Dividend Entries) The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2019.
| Current assets | $540,000 |
| Debt investments (trading) | 624,000 |
| Common stock (par value $10) | 500,000 |
| 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 price per share is $39.
b. The par value of the common stock is reduced to $2 with a 5-for-1 stock split.
c. A dividend is declared January 5, 2020, and paid January 25, 2020, in bonds held as an investment. The bonds have a book value of $100,000 and a fair value of $135,000. Get Accounting Homework Help today
