week 5 homework due tonight

15-15 (Dividend Entries) The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2013.

Current assets Debt investments Common stock (par value $10) Paid-in capital in excess of par Retained earnings

$540,000 624,000 500,000 150,000 840,000

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, 2014, and paid January 25, 2014, in bonds held as an investment.

The bonds have a book value of $100,000 and a fair value of $135,000.