E15-15B (Dividend Entries) The following data were taken from the balance sheet

E15-15B (Dividend Entries) The following data were taken from the balance sheet accounts of Symbol Two Corporation on June 30 2014.Current assets $125000Investments 365000Common stock (par value $1) 70000Paid-in capital in excess of par 680000Retained earnings 963000InstructionsPrepare the required journal entries for the following unrelated items.(a) The par value of the capital stock is reduced to $0.50 with a 2-for-1 stock split.(b) A 10% stock dividend is declared and distributed at a time when the market value of the shares is $25 per share.(c) A property dividend is declared September 12 2014 and paid October 1 2014 in common shares in another company held as an equity investment. The equity investment has a book value of $50000 and a fair market value of $205000.

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