do not give solution in image format Account Titles and ExplanationA 4-for-1 stock split is effected. Prepare the required journal entry. (Credit account titles are automatically indented when the amountIs entered. Do not Indent manually. If no entry is required, select "No Entry" for the account tities and enter O for the amounts)Show Transcribed TextDate Account Titles and ExplanationJan. 8Jan. 8Jan 28(To record fair value adjustment)3A dividend in kind is declared on January 8, 2021 and paid on January 28, 2021 in FV-NI investments. The investments have acarrying amount of $170,000 (fair value at December 31, 2020) and a January 8 fair value of $178,000. Prepare the required ijournal entries. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry isrequired, select "No Entry" for the account titles and enter 0 for the amounts)(To record declaration of property dividend)Show Transcribed Textc3CDebitDebitCreditICredit The following data were taken from the SFP accounts of Pronghorn Corporation on December 31, 2020:Current assetsFV-NI investmentsCommon shares (unlimited authorized, 630,000 shares issued and outstanding)Contributed surplusRetained earningsAccount Titles and ExplanationDividendsCommon Stock Dividends DistributableA4% stock dividend is declared at their fair value and distributed at a time when the shares' fair value is $46 per share. Preparethe required journal entries. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If noentry is required, select "No Entry" for the account titles and enter O for the amounts)Show Transcribed TextAccount Titles and ExplanationDividendsCommon Stock Dividends Distributable(To record stock dividend declaration)DividendsCommon Stock Dividends DistributableS(To record stock dividend distribution)ĆDebit1159200A4% stock dividend is declared at their fair value and distributed at a time when the shares' fair value is $46 per share. Preparethe required journal entries. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If noentry is required, select "No Entry" for the account titles and enter O for the amounts)$ 1,022,000Debit803,00011592002520006,300,000310,0001,950,000Credit1159200CreditI1159200252000

Calculation of total value of stock dividend paid : Particulars Amount Number of common shares…

A4-for-1 stock split is effected. Prepare the required journal entry. (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) Account Titles and Explanation how Transcribed Text 2 Debit Credit A dividend in kind is declared on January 8, 2021 and paid on January 28, 2021 in FV-NI investments. The investments have a carrying amount of $170,000 (fair value at December 31, 2020) and a January 8 fair value of $178,000. Prepare the required journal 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 0 for the amounts)

A4-for-1 stock split is effected. Prepare the required journal entry. (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) Account Titles and Explanation how Transcribed Text 2 Debit Credit A dividend in kind is declared on January 8, 2021 and paid on January 28, 2021 in FV-NI investments. The investments have a carrying amount of $170,000 (fair value at December 31, 2020) and a January 8 fair value of $178,000. Prepare the required journal 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 0 for the amounts)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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