The following data were taken from the balance sheet accounts of Wildhorse 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. $513,000 C. 605,000 501,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles an automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles an enter o for the amounts. Record entries in the order displayed in the problem statement.) 144,000 910,000 A 6% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $40. 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 $104,000 and a fair value of $135,000.

The following data were taken from the balance sheet accounts of Wildhorse 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. $513,000 C. 605,000 501,000 Prepare the required journal entries for the following unrelated items. (List all debit entries before credit entries. Credit account titles an automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles an enter o for the amounts. Record entries in the order displayed in the problem statement.) 144,000 910,000 A 6% stock dividend is (1) declared and (2) distributed at a time when the market price per share is $40. 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 $104,000 and a fair value of $135,000.

Name: current Attempt in ProgressThe following data were taken from the bal
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Description: current Attempt in ProgressThe following data were taken from the balance sheet accounts of Wildhorse Corporation on December 31, 2024.Current assetsDebt investments (trading)Common stock (par value $10)Paid-in capital in excess of parRetained earni

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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Required information [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances: Accounts Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Land Equipment Accumulated Depreciation Accounts Payable Notes Payable (6%, due April 1, 2022) Common Stock Retained Earnings Totals View transaction list Journal entry worksheet
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