Selected dividend transactions, stock split
selected transactions completed by canyon ferry boating corporation during the current fiscal year are as follows:
journalize the transactions.
if no entry is required, select "no entry required" and leave the amount boxes blank. for a compound transaction, if an amount box does not require an entry, leave it blank.
jan. 8. split the common stock 2 for 1 and reduced the par from $80 to $40 per share. after the split, there were 150,000 common shares outstanding.
apr. 30. declared semiannual dividends of $0.75 on 18,000 shares of preferred stock and $0.28 on the common stock payable on july 1.
july 1. paid the cash dividends.
oct. 31. declared semiannual dividends of $0.75 on the preferred stock and $0.14 on the common stock (before the stock dividend). 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.
dec. 31. paid the cash dividends and issued the certificates for the common stock dividend.