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. If an amount box does not require an entry, leave it blank.
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Jan. Split the common stock for and reduced the par from $ to $ per share. After the split, there were common shares outstanding.
DateAccountDebitCredit
Jan.
No Entry Required
No Entry Required
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Feedback
Review the effect of stock splits on equity accounts.
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Apr. Declared semiannual dividends of $ per share on shares of preferred stock and $ per share on the common stock payable on July
DateAccountDebitCredit
Apr.
Cash Dividends
Cash Dividends Payable
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Feedback
When a company declares a dividend it becomes legally binding.
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July Paid the cash dividends.
DateAccountDebitCredit
July
Cash Dividends Payable
Cash
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Feedback
What are the stockholders' receiving from the corporation?
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Oct. Declared semiannual dividends of $ per share on the preferred stock and $ per share on the common stock before the stock dividend In addition, a common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $
DateAccountDebitCredit
Oct.
Oct.
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Feedback
On the date of declaration of a cash dividend, it becomes legally binding. How do stock dividends affect stockholders' equity?
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Dec. Paid the cash dividends and issued the certificates for the common stock dividend.
DateAccountDebitCredit
Dec.
Dec.
