Current Attempt in Progress The following data were taken from the balance sheet accounts of Oriole Corporation on December 31, 2024. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings a. b. $590,000 630,000 C. 501,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select " Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) 162,000 870,000 A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $45. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of $102,000 and a fair value of $137,000.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Current Attempt in Progress
The following data were taken from the balance sheet accounts of Oriole Corporation on December 31, 2024.
Current assets
Debt investments (trading)
Common stock (par value $10)
Paid-in capital in excess of par
Retained earnings
a.
b.
$590,000
630,000
C.
501,000
Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit
account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No
Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.)
162,000
870,000
A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $45.
The par value of the common stock is reduced to $2 with a 5-for-1 stock split.
A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds
have a book value of $102,000 and a fair value of $137,000.
Transcribed Image Text:Current Attempt in Progress The following data were taken from the balance sheet accounts of Oriole Corporation on December 31, 2024. Current assets Debt investments (trading) Common stock (par value $10) Paid-in capital in excess of par Retained earnings a. b. $590,000 630,000 C. 501,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement.) 162,000 870,000 A 4% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $45. The par value of the common stock is reduced to $2 with a 5-for-1 stock split. A dividend is declared January 5, 2025, and paid January 25, 2025, in bonds held as an investment. The bonds have a book value of $102,000 and a fair value of $137,000.
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