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)...

The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2019.

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.