Jan. $8.$ Split the common stock $3$ for $1$ and reduced the par from $$60$ to $$20$ per share. After the split, there were $123,000$ common shares outs

Jan. $8$

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Review the effect of stock splits on equity accounts.

Apr. $30.$ Declared semiannual dividends of $$1\mathrm{.}60$ per share on $9,000$ shares of preferred stock and $$0\mathrm{.}14$ per share on the common stock payable on

Apr. $30$

$14,020$

Cash Dividends Payable

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When a company declares a dividend it becomes legally binding.

July $1.$ Paid the cash dividends.

July $1$ Cash Dividends Payable $\sqrt[\phantom{2}]{V}x$

$$

$x$

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