2. Issued 1,000 shares of stock for land appraised at $50,000. The
stock is actively traded on a national exchange at approximately $46
per share on the date of issuance.
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ACCT 551 Week 5 Homework E15-15, E15-16
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E15-15 (Dividend Entries) The following data were taken from the
balance sheet accounts of Masefield Corporation on December 31,
2013.
(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.
E15-16 (Computation of Retained Earnings) The following
information has been taken from the ledger accounts of Isaac Stern
Corporation.
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ACCT 551 Week 6 Homework E16-6, E16-7, E16-12, E16-22