Maxfli Hot Air Balloons, Inc., completed the following selected transac- tions during 2009:

Requirement 

Record the transactions in the general journal.

Transcribed Image Text:

Feb. 9 Declared a cash dividend on the 10,000 shares of $1.50, no- Feb. 28 Mar. 21 Apr. 18 par preferred stock. Declared a $0.20 per share dividend on the 10,000 shares of common stock outstanding. The date of record is February 16, and the payment date is February 28. (pp. 653-655) Paid the cash dividends. (pp. 653-655) Split common stock 2 for 1. Before the split, Maxfli had 10,000 shares of $10 par common stock outstanding. (p. 694) Distributed a 10% stock dividend on the common stock. The market value of the common stock was $27 per share. (pp. 692-693) June 18 Purchased 2,000 shares of treasury stock at $25 per share. (pp. 694-695) Dec. 22 Sold 1,000 shares of treasury stock for $28 per share. (p. 696)