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

The following data were taken from the balance sheet accounts of Splish Corporation on December 31, 2016.

Current assets $515,000

Debt investments 640,000

Common stock (par value $10) 475,000

Paid-in capital in excess of par 145,000

Retained earnings 796,000

Prepare the required journal entries for the following unrelated items.

(a) A 4% 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 $92,000 and a fair value of $131,000. ( To record change in value of bonds and to record declaration of dividends)

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