The following data were taken from the balance sheet

accounts
The following data were taken from the balance sheet accounts of Bedard Corporation on
December 31, 2012: Current assets........... $1,040,000Investments—trading .................
824,000Common shares (no par value, no authorized limit, 600,000 shares issued and
outstanding) .............. 6,000,000Contributed surplus ................. 350,000Retained earnings
.................. 1,840,000Instructions Prepare the required journal entries for the following
unrelated items. (a). A 6% stock dividend is declared and distributed at a time when the shares’
market value is $48 per share. (b). A 4-for-1 stock split is effected. (c). A dividend in kind is
declared on January 5, 2012, and paid on January 25, 2012, in bonds that were classified as
trading. The bonds have a carrying amount of $100,000 (equal to cost) and a fair value of
$165,000.View Solution:
The following data were taken from the balance sheet accounts
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