Accounting :journalize the transactions Q3
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homework_question_3.docxSelected transactions completed by Canyon Ferry Boating Corporation during the current fiscal year are as follows:
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Jan. |
8 |
Split the common stock The stock outstanding when a corporation has issued only one class of stock. 2 for 1 and reduced the par The monetary amount printed on a stock certificate. from $80 to $40 per share. After the split, there were 150,000 common shares outstanding. |
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Apr. |
30 |
Declared semiannual dividends of $0.75 on 18,000 shares of preferred stock A class of stock with preferential rights over common stock. and $0.28 on the common stock payable on July 1. |
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Jul. |
1 |
Paid the cash dividends A cash distribution of earnings by a corporation to its shareholders. . |
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Oct. |
31 |
Declared semiannual dividends of $0.75 on the preferred stock and $0.14 on the common stock (before the stock dividend A distribution of shares of stock to a corporation’s stockholders. ). In addition, a 5% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $52. |
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Dec. |
31 |
Paid the cash dividends and issued the certificates for the common stock dividend. |
Journalize the transactions. If no entry is required, simply skip to the next transaction. Refer to the Chart of Accounts for exact wording of account titles.
JOURNAL
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DATE |
DESCRIPTION |
POST. REF. |
DEBIT |
CREDIT |
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1 |
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2 |
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3 |
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4 |
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5 |
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6 |
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7 |
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8 |
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9 |
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10 |
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11 |
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12 |
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13 |
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