Selected Dividend Transactions, Stock Split Selected transactions completed by Canyon Ferry Boating Corporation during the...
60.1K
Verified Solution
Link Copied!
Question
Accounting
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.
Jan. 8. Split the common stock 3 for 1 and reduced the par from $48 to $16 per share. After the split, there were 75,000 common shares outstanding.
Jan. 8.
No entry required
fill in the blank 42682005efed050_2
No entry required
fill in the blank 42682005efed050_4
Apr. 30. Declared semiannual dividends of $1.10 on 5,000 shares of preferred stockand $0.08 on the common stock payable on July 1.
Apr. 30.
fill in the blank 353428ff9009ffc_2
fill in the blank 353428ff9009ffc_4
July 1. Paid the cash dividends.
July 1.
fill in the blank 27bab205400bfcd_2
fill in the blank 27bab205400bfcd_4
Oct. 31. Declared semiannual dividends of $1.10 on the preferred stock and $0.06 on the common stock (before the stock dividend). In addition, a 3% common stock dividend was declared on the common stock outstanding. The fair market value of the common stock is estimated at $29.
Cash Dividends
fill in the blank ca148b02d009f80_2
fill in the blank ca148b02d009f80_4
Stock dividends
fill in the blank ca148b02d009f80_6
fill in the blank ca148b02d009f80_7
fill in the blank ca148b02d009f80_9
fill in the blank ca148b02d009f80_10
fill in the blank ca148b02d009f80_12
fill in the blank ca148b02d009f80_13
Dec. 15. Paid the cash dividends and issued the certificates for the common stock dividend.
Payment
fill in the blank f1964d033066004_2
fill in the blank f1964d033066004_4
Issuance
fill in the blank f1964d033066004_6
fill in the blank f1964d033066004_8
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!