Question: Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jourhalize the transactions. If no

 Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount
Corporation during the current fiscal year are as follows: Jourhalize the transactions.
If no entry is required, select "No Entry Required" from the dropdown
box and leave the amount boxes blank, If an amcunt box does

Entries for Selected Corporate Transactions Selected transactions completed by ATV Discount Corporation during the current fiscal year are as follows: Jourhalize the transactions. If no entry is required, select "No Entry Required" from the dropdown box and leave the amount boxes blank, If an amcunt box does not require an entry, leave it blank: Jan. 5. Split the common stock 3 for 1 and reduced the par from $90 to $30 per share. After the split, there were 375,000 common shares outstanding. Mar, 10. Purchased 30,000 shares of the corporation's own common stock at 535 , recording the stock at cost. Apr. 30. Dedared semianous oividends of $1.40 on 30,000 shares of preferred stock and $0.34 on the common stock to stockhalders of record on May 15 , payable on June 15. Apr. 30. Oeclared semiannual dividends of $1.40 on 30,000 shares of preferred stock and $0.34 on the common stock to stocknolders of record on May 15 , payjabie on June 15. June 15. Paid the cash idvidendi: Aug. 20. Sold 22,000 shares of treasury tedek at $40, receiving cash. Oct. 15. Declared semiannual cividends of $1,40 on the preferred stock and $0.40 on the common stock (before the stock dividend). Oct. 15. A 2W common stock dividend was deciaced on the comman stock eutstanding, The fair market volue of the common- stock is estimated at $42. Dec. 19. Pald the cash dividends. Dec. 19. Paid the cash dividends: Dec. 19. Issued the certificates for the common stock dividend

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!