Question Content Area

Journalize the following selected transactions completed during the current fiscal year:

Date	Transaction
February 1	The board of directors declared a stock split that reduced the par of common shares from $100 to $20. This action increased the number of outstanding shares to 500,000.
February 11	Purchased 25,000 shares of the company's own stock at $44, recording the treasury stock at cost.
May 1	Declared a dividend of $2.50 per share on the outstanding shares of common stock.
May 15	Paid the dividend declared on May 1.
October 19	Declared a 2% stock dividend on the common stock outstanding (the fair market value of the stock to be issued is $55).
November 12	Issued the certificates for the common stock dividend declared on October 19.

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.

Date	Account	Debit	Credit
February 1	CashCommon StockNo Entry RequiredRetained EarningsTreasury StockNo Entry Required	No Entry Required	No Entry Required
	CashCommon StockNo Entry RequiredRetained EarningsTreasury StockNo Entry Required	No Entry Required	No Entry Required
February 11	CashCommon StockNo Entry RequiredRetained EarningsTreasury StockTreasury Stock	Treasury Stock	Treasury Stock
	CashCommon StockNo Entry RequiredRetained EarningsTreasury StockCash	Cash	Cash
May 1	CashCash DividendsCash Dividends PayableNo Entry RequiredRetained EarningsCash Dividends	Cash Dividends	Cash Dividends
	CashCash DividendsCash Dividends PayableNo Entry RequiredRetained EarningsCash Dividends Payable	Cash Dividends Payable	Cash Dividends Payable
May 15	CashCash DividendsCash Dividends PayableNo Entry RequiredRetained EarningsCash Dividends Payable	Cash Dividends Payable	Cash Dividends Payable
	CashCash DividendsCash Dividends PayableNo Entry RequiredRetained EarningsCash	Cash	Cash
October 19	CashNo Entry RequiredPaid-In Capital in Excess of Par-Common StockStock DividendsStock Dividends DistributableStock Dividends	Stock Dividends	Stock Dividends
	Accounts PayableCashNo Entry RequiredStock DividendsStock Dividends DistributableStock Dividends Distributable	Stock Dividends Distributable	Stock Dividends Distributable
	CashCommon StockNo Entry RequiredPaid-In Capital in Excess of Par-Common StockSuppliesPaid-In Capital in Excess of Par-Common Stock	Paid-In Capital in Excess of Par-Common Stock	Paid-In Capital in Excess of Par-Common Stock
November 12	CashCommon StockNo Entry RequiredRetained EarningsStock Dividends DistributableStock Dividends Distributable	Stock Dividends Distributable	Stock Dividends Distributable
	CashCommon StockNo Entry RequiredRetained EarningsStock Dividends Distributable