ACCT 551 RANK Start With a Dream /acct551rank.com ACCT 551 RANK Start With a Dream /acct551rank.com | Page 44

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.
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.
---------------------------------------------------------
ACCT 551 Week 5 Homework E15-15, E15-16
FOR MORE CLASSES VISIT
www.acct551rank
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.