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The following data were taken from the balance sheet accounts of Marigold Corporation on December 31, 2016.
Current assets$569,000Debt investments603,000Common stock (par value $10)514,000Paid-in capital in excess of par143,000Retained earnings820,000
(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
(a)A 5% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $41.(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, 2017, and paid January 25, 2017, in bonds held as an investment. The bonds have a book value of $108,000 and a fair value of $135,000.
No.
Date
Account Titles and Explanation
Debit
Credit
(a) (1)
(a) (2)
(b)
(c)
Jan. 5, 2017
Jan. 25, 2017
(To record change in value of bonds)
(To record the declaration of dividends)
Jan. 5, 2017
Jan. 25, 2017
